British cybersecurity company Darktrace is planning to push ahead with a £3bn float at the start of next month, shrugging off concerns over a hit to sentiment from fraud allegations against its founding shareholder Mike Lynch.
Darktrace said it was plotting a premium listing on the London Stock Exchange in early May, and would be raising cash in the float to build out its products. It added that it was aiming for a free float of at least a fifth of issued share capital.
As part of the float, some existing shareholders are expected to sell down their stakes. It did not provide pricing for the float, although it expected to be looking for a valuation of around £3bn.
Boss Poppy Gustafsson said the float would mark “a major milestone in Darktrace’s history of rapid growth, and a historic day for the UK’s thriving technology sector”.
She said the company’s success was “testament to the strength of the UK’s world-leading science base and long history of mathematical discovery and computing inventions”.
News that Darktrace will be pushing the button on its float within…
