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By Aidan Gregory 20 Apr 2021 The corporate governance issues surrounding Darktrace, the UK AI cyber security company that confirmed its intention to float on the London Stock Exchange this week, can be generously described as unusual but they are not a shock to the market, and are unlikely to put investors off completely, providing the company seeks a sensible valuation. Founded in Cambridge in 2013, Darktrace uses AI to target cybersecurity threats as they are automatically detected in systems. The company has over 4,700 clients including many blue chip companies and public bodies and counts...

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Stake: up to £140m  Romi Savova, the boss and co-founder of PensionBee could see her stake valued at more than £100m when it floats this month.  The smartphone app business has revealed a price range that could see it valued at up to £384m.  It means Savova's 36 per cent holding could be worth as much as £140m when it goes public.  Born in Bulgaria and raised in South Africa, the former Morgan Stanley investment banker had the idea for her business after struggling to move a pension pot when switching jobs.  'I discovered it is actually a really tricky nightmare, if you are just a no...

Share this In a welcome boost for the London IPO market after the Deliveroo flop, UK cyber security company Darktrace has announced its intention to list in London in the coming weeks. This is great news, and an opportunity for London bankers to showcase it has the expertise to price an IPO correctly, as well as for the company's management to set expectations around the Darktrace IPO accordingly. Darktrace IPO coming to London Darktrace was founded in 2013, and uses Artificial Intelligence (AI) to identify cyber threats within client’s computer systems. The Darktrace IPO offers bankers...

And it is set to call on a string of City grandees and former government ministers to press the flesh on its behalf. Former universities and science minister David Willetts, 65, was recently appointed to the board, and ex-BT boss Sir Peter Bonfield is a director who has served on the boards of firms such as Sony and Ericsson. Other advisers include former MI5 director Lord Evans, senior CIA veteran Alan Wade and former UK home secretary Amber Rudd. They could be key to keeping investors on-side. Darktrace was founded in 2013 by a group of Cambridge mathematicians and former spies. Clients ran...