Latest news with #GavinPatterson
Yahoo
19 hours ago
- Business
- Yahoo
Israeli tech giant delays £300m City float as Iran conflict escalates
An Israeli technology business has delayed plans to list on the London Stock Exchange after escalating tensions in Iran rocked global markets. Waves, which specialises in audio software, is now hoping to float the business by October, having previously aimed for as early as this month. It marks a fresh setback for the beleaguered stock market, as the Tel Aviv-based company's planned £300m deal has been one of the few listings poised to take place in London. Bankers at Panmure Liberum are still working on the deal, although they have pushed back the completion date while market conditions remain challenging. Israel's conflict with Iran has also contributed to the decision, as geopolitical volatility has rattled traders around the world. Oil prices have surged in response to the conflict, while gold has edged close to a fresh record high as investors seek safe haven assets. Stock markets have largely shrugged off the war since the initial strikes carried out by Israel, but investors remain nervous about the prospect of US involvement. Waves, which was set up in 1992 and employs more than 200 people, sells its audio software technology globally. Details of its proposed listing first emerged this year, when it was reported that bosses were assembling a board that could smooth Waves's transition to a public company. Gavin Patterson, the former BT chairman, has been sounded out as a potential candidate to chair the business. Eventual completion of the deal will provide the Square Mile with a rare boost as it battles a dearth of new listings and an exodus of existing companies. Pressure on the London Stock Exchange has also intensified in recent weeks after a string of tech companies announced plans to leave the market or seek listings elsewhere. This includes British fintech champion Wise, which confirmed this month that it plans to move its main listing to New York. Charles Hall, of Peel Hunt, said this month: 'Urgent action is required if we want a healthy UK equity market that supports our listed companies and encourages the next generation of companies to list.' Last month, the US private equity billionaire Orlando Bravo also claimed the London stock market was in need of 'major' reforms to be able to compete internationally. Waves declined to comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Telegraph
a day ago
- Business
- Telegraph
Israeli tech giant delays £300m City float as Iran conflict escalates
An Israeli technology business has delayed plans to list on the London Stock Exchange after escalating tensions in Iran rocked global markets. Waves, which specialises in audio software, is now hoping to float the business by October, having previously aimed for as early as this month. It marks a fresh setback for the beleaguered stock market, as the Tel Aviv-based company's planned £300m deal has been one of the few listings poised to take place in London. Bankers at Panmure Liberum are still working on the deal, although they have pushed back the completion date while market conditions remain challenging. Israel's conflict with Iran has also contributed to the decision, as geopolitical volatility has rattled traders around the world. Oil prices have surged in response to the conflict, while gold has edged close to a fresh record high as investors seek safe haven assets. Stock markets have largely shrugged off the war since the initial strikes carried out by Israel, but investors remain nervous about the prospect of US involvement. Waves, which was set up in 1992 and employs more than 200 people, sells its audio software technology globally. Details of its proposed listing first emerged this year, when it was reported that bosses were assembling a board that could smooth Waves's transition to a public company. Gavin Patterson, the former BT chairman, has been sounded out as a potential candidate to chair the business. Eventual completion of the deal will provide the Square Mile with a rare boost as it battles a dearth of new listings and an exodus of existing companies. Pressure on the London Stock Exchange has also intensified in recent weeks after a string of tech companies announced plans to leave the market or seek listings elsewhere. This includes British fintech champion Wise, which confirmed this month that it plans to move its main listing to New York. Charles Hall, of Peel Hunt, said this month: 'Urgent action is required if we want a healthy UK equity market that supports our listed companies and encourages the next generation of companies to list.' Last month, the US private equity billionaire Orlando Bravo also claimed the London stock market was in need of 'major' reforms to be able to compete internationally.
Yahoo
02-06-2025
- Business
- Yahoo
Ex-BT chief Patterson sounded out about £300m Waves Audio float
A former BT Group chief is being lined up to steer an audio technology business used by many of the world's leading musicians through a £300m London flotation. Sky News has learnt that Gavin Patterson, who now sits on various boards including Ocado Group, is in talks to chair Waves Audio ahead of a listing which could come as soon as next month. City sources said an agreement between the company and Mr Patterson had yet to be finalised. Sky News revealed several weeks ago that Waves Audio, which is headquartered in Israel, had hired bankers from Panmure Liberum to oversee an initial public offering (IPO). The company, which is majority-owned by founders Meir Sha'ashua and Gilad Keren, is expected to raise millions of pounds from the sale of new shares, although the details have yet to be finalised. Waves Audio makes professional digital audio signal processing technology and audio effects used in recordings, mixing, mastering, post-production, broadcasting and live sound. It employs more than 200 people, and has a major international presence, including in Europe and the US. A successful float on London's main market would be a relative rarity given the depressed level of IPO activity in the last couple of years. Data compiled by EY, the professional services firm, showed that there were just five new listings on the London market in the first quarter of the year. Pessimism about the outlook for flotations has been compounded by a steady trickle of companies cancelling their London listings or shifting them overseas - with drugmaker Indivior the latest to abandon the City on Monday. The UK market's biggest hope - that Shein, the Chinese-founded online fashion retailer, would defy the impact of US President Donald Trump's tariffs and list in London - appears to have been dashed, with reports last week suggesting that it would float in Hong Kong instead. A spokesman for Waves Audio declined to comment.
Sky News
02-06-2025
- Business
- Sky News
Ex-BT chief Patterson sounded out about £300m Waves Audio float
A former BT Group chief is being lined up to steer an audio technology business used by many of the world's leading musicians through a £300m London flotation. Sky News has learnt that Gavin Patterson, who now sits on various boards including Ocado Group, is in talks to chair Waves Audio ahead of a listing which could come as soon as next month. City sources said an agreement between the company and Mr Patterson had yet to be finalised. Sky News revealed several weeks ago that Waves Audio, which is headquartered in Israel, had hired bankers from Panmure Liberum to oversee an initial public offering (IPO). The company, which is majority-owned by founders Meir Sha'ashua and Gilad Keren, is expected to raise millions of pounds from the sale of new shares, although the details have yet to be finalised. Waves Audio makes professional digital audio signal processing technology and audio effects used in recordings, mixing, mastering, post-production, broadcasting and live sound. It employs more than 200 people, and has a major international presence, including in Europe and the US. A successful float on London's main market would be a relative rarity given the depressed level of IPO activity in the last couple of years. Data compiled by EY, the professional services firm, showed that there were just five new listings on the London market in the first quarter of the year. Pessimism about the outlook for flotations has been compounded by a steady trickle of companies cancelling their London listings or shifting them overseas - with drugmaker Indivior the latest to abandon the City on Monday. The UK market's biggest hope - that Shein, the Chinese-founded online fashion retailer, would defy the impact of US President Donald Trump's tariffs and list in London - appears to have been dashed, with reports last week suggesting that it would float in Hong Kong instead.
