Read More Darktrace, which uses AI to detect and respond to cyber threats, has adopted a more cautious approach accordingly, targeting a conservative valuation of up to £1.9bn for its flotation on the LSE's premium segment in what chief executive Poppy Gustafsson described as a “historic moment for the UK's thriving technology sector”. With the books for the Darktrace listing reportedly covered on the first day of the roadshow, it's another sign of Britain's flourishing IPO market. The UK is on track for its strongest-ever annual performance for IPOs, as pent-up demand during the Covid-19 pandemic and optimism around vaccinations drive the surge in listings.