Page 8 - Invoke Capital News Today : Breaking News, Live Updates & Top Stories | Vimarsana

UPDATE 2-Darktrace prices IPO at 250 pence, valuing firm at $2.4 billion Reuters 5 hrs ago By Paul Sandle LONDON, April 30 (Reuters) - British cybersecurity company Darktrace said on Friday it had set the price of its shares at 250 pence in its London listing, around the midpoint of the range, giving the company a market capitalisation of about 1.7 billion pounds ($2.37 billion). The valuation is well below the $4 billion which sources had said was the company's original target. The tech company, which was backed by entrepreneur Mike Lynch's Invoke Capital, said the offer comprised 66 milli...

Darktrace shares soar by 40% on London stock market debut Mark Sweney © Provided by The Guardian Photograph: John Phillips/Getty Shares in Darktrace surged after the British cybersecurity firm made its debut on the London Stock Exchange. The Cambridge-based company began conditional trading on Friday at 250p a share, with enthusiastic investors immediately pushing up its stock by 40% to 350p a share, and sending its market value up from £1.7bn to almost £2.4bn. The 250p float price was at a lower level than originally intended, in part to avoid a repeat of Deliveroo’s o...

Darktrace priced its shares at 250p Friday morning, valuing the cybersecurity firm at £1.7 billion ($2.4 billion).

Darktrace prices IPO at 250 pence, valuing firm at $2.4 billion By Syndicated Content Apr 30, 2021 1:29 AM LONDON (Reuters) – British cybersecurity company Darktrace said on Friday it had set the price of its shares at 250 pence in its London listing, around the midpoint of the range, giving the company a market capitalisation of about 1.7 billion pounds ($2.37 billion). The valuation is well below the $4 billion which sources had said was the company’s original target. The company, which was backed by entrepreneur Mike Lynch’s Invoke Capital, said it would raise gr...

The stock was last up 41% at a price of 352p. Darktrace said its offering would comprise around 66 million shares — or about 9.6% of Darktrace's issued share capital — and raise a total of £165.1 million. Of that, £143.4 million will go to the company, while £21.7 million will go to existing shareholders. The company has said a further 9.9 million shares will be sold if demand proves higher than expected. Hussein Kanji, a partner at early Darktrace backer, Hoxton Ventures, told CNBC he believe the company was still in the "early days" of its journey. "The IPO is just part of the journe...