Once a Beacon for U.K. IPOs, Alfa Veers Toward Small-Cap Status
- Landmark tech company set for index relegation on Wednesday
- Market for new listings has recovered since Brexit vote
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Alfa Financial Software Holdings Plc’s trading debut in May last year was part of a revival in the U.K.’s moribund market for initial public offerings, which had dried up after a vote to leave the European Union.
It gave the the country the largest technology offering in two years, jumped 32 percent by the end of the first trading day, and its market value topped 1.6 billion pounds ($2.1 billion) by year-end.