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
If I was still editing I'd be asking my business editor why they trashed Darktrace so universally.... and why Mike Lynch is not given credit as a great British business leader who deserves wide support...(Darktrace jump 40% in IPO via @FT) https://www.ft.com/...
Ok, someone will need to explain this to me: Valuation at IPO: £1.7bn (assuming post) Capital raised: £165m (primary and secondary) Which looks to me like a ~10% free float. @LSEplc Premium listing rules call for a 25% free float. What am I missing? https://www.ft.com/...