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(Reuters) - British cyber-security firm Darktrace is cutting the valuation of its London stock exchange listing as it adopts a cautious approach aimed at avoiding a repetition of Deliveroo s disappointing public debut, Sky News reported on Sunday.
Darktrace is moving towards a price range that will value it at between 2.4 billion pounds ($3.33 billion) and 2.7 billion pounds, Sky News said.
An official announcement from Darktrace is expected on Monday, according to Sky news.
Darktrace did not immediately respond to a request for comment.
The firm, backed by tech entrepreneur Mike Lynch, said last week it planned for a $4 billion premium listing on the London Stock Exchange that would take place in early May.
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