Darktrace's float will test London's market
D ELIVEROO’S FLOTATION in March did nothing to enhance London’s prospects of becoming a tech-listing magnet. Shares in the meal-delivery startup are trading at two-fifths below their offer price. Now London’s hopes hang on Darktrace, a cyber-security firm which this week confirmed its plan to list on the London Stock Exchange in early May. Listen to this story Enjoy more audio and podcasts oniOSorAndroid. Darktrace is expected to seek a valuation of around £3bn—modest, compared with Deliveroo’s of £7.6bn. Software is a better business than food delivery, too, and Darktrace has pow...
Source: economist.com