Cybersecurity company Darktrace rises 32% on its first day of trading on London Stock Exchange, after raising £165.1M in its IPO at a valuation of £1.7B
Cybersecurity firm Darktrace rises 32% on its first day of buying and selling on London Inventory Change, after elevating £165.1M in its IPO at a valuation of £1.7B — – Valuation is decrease than what the corporate had beforehand sought — Firm priced IPO at 250 pence per share, midpoint of vary.
As a result of its smaller IPO, Darktrace surges 32% in the stock market
There has been a reduction in the valuation compared with what was initially sought by the company
In its IPO, the company set a price of 250 pence per share, which is in the middle of the range
After Darktrace Plc announced it would take its IPO to market sooner rather than later, the cybersecurity firm’s stock surged on its first day of trading after slashing its valuation by about half and rushing forward with its IPO.
In their first day of trading on Friday, the shares rose 32% to 330 pence in their debut. This raise gave the company a market value of approximately 1.7 billion pounds, giving it a market capitalization of 165.1 million pounds ($230 million).