Canadian chip developer Alphawave IP is set to float in London after setting a benchmark valuation of $4.5bn from cornerstone investors backing the initial public offering. The company, founded only four years ago, develops chip technology that pushes data through data centres and phone networks. It intends to raise more than $500m via a listing in London and set up a research centre in Cambridge, the heart of Britainâs semiconductor industry known as âSilicon Fenâ, as part of its expansion. The company will move its headquarters to the UK as part of the float, providing a si...