Cybersecurity
Darktrace Targets Valuation of Up to $2.6 Billion in London IPO
- Company has scheduled its trading debut on the LSE for May 5
- Shares are offered at 220 pence to 280 pence each in the deal
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Cybersecurity company Darktrace Plc is targeting a valuation of as much as 1.9 billion pounds ($2.6 billion) in a London initial public offering, boosting confidence in the City’s ability to attract technology listings post-Brexit and after Deliveroo Holdings Plc’s recent flop.
Darktrace is marketing shares in the offering at 220 pence to 280 pence apiece, according to terms of the deal seen by Bloomberg News. The company plans to sell 51.1 million to 65.1 million new shares and looks to raise proceeds of $200 million.