Cyber-firm Darktrace eyes ‘£3bn’ London share listing

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Cyber-security firm Darktrace has said it intends to list its shares on the London Stock Exchange.

Darktrace did not indicate how much it is seeking to raise, but media reports suggest it could be as much as £3bn.

The move is seen as a sign of confidence in the London market after Deliveroo’s flop flotation last month.

The food delivery business saw its shares fall sharply when trading began, casting doubt on efforts to persuade more big tech firms to list in the UK.

Darktrace was set up in 2013 by former members of the UK security services and maths professors.

It was among the first companies in its field to use artificial intelligence (AI) or machine learning to improve cyber-security.

Rather than simply looking for a virus, its systems constantly monitor a company’s computer system to look for abnormal patterns or behaviours.

Darktrace chief executive Poppy Gustafsson said a London listing was a “logical choice” for the Cambridge-based firm and that a US listing had not been considered.

She said Darktrace was a “very different company” from Deliveroo, being “a fundamental technology company”.

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