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Darktrace Plans First Major London IPO Since Deliveroo Flop

  • IPO may value cybersecurity firm at $3 billion to $4 billion
  • ‘This is a very different technology company’: Gustafsson
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British cybersecurity company Darktrace Plc announced plans for an initial public offering in London, marking the first major company to plan a listing on the exchange after Deliveroo Holdings Plc flopped in its market debut.

The IPO is expected to value the company at about $3 billion to $4 billion, a person familiar with the matter said. A representative for the company declined to comment on valuation ahead of the shares pricing. Darktrace and shareholders plan to sell at least 20% of the company’s equity, and the stock will trade on the London Stock Exchange’s premium market and be eligible for FTSE’s benchmark stock indexes, the company said in a statement Monday.