Darktrace: What we learned from building a £2.5bn UK success story June 3, 2021 There were just a handful of us clustered around a Bloomberg screen waiting for the moment that Darktrace would finally be launched onto the London Stock Exchange. In the end, that’s what a float comes down to – the final few seconds before the clock ticks round to 8am and the numbers start moving. If [...]
Sun shines on FTSE 100 amid reshuffle as ITV aims for prime-time slot June 1, 2021 The sun is shining on the FTSE 100 with the index receiving an early summer boost pushing it firmly above the psychologically important 7,000 mark. As the global growth recovery story unfolds, miners in particular are on the front foot today, as high demand for metals in particular push prices higher. Anglo American and Rio [...]
Made.com: Online furniture seller plots London IPO May 25, 2021 Made.com has unveiled plans for an initial public offering in London after cashing in on rapid growth during the pandemic. The online furniture retailer today said it will seek to raise roughly £100m through the issue of new shares, while the float will include an offer of shares to be sold by existing shareholders. The [...]
Exclusive: SPACs on LSE will power ‘IPO bonanza’ in London, says Silicon Valley Bank dealmaker May 22, 2021 To make the UK a more attractive place for investors, the government plans to allow Special Purpose Acquisition Companies (SPACs) to list in London and ease a range of share listing restrictions at the LSE, Jonathan Hill’s report. Hill’s report into future financial services regulation calls for a range of deregulatory measures that aim to “ensure [...]
FTSE 100 reshuffle: Are Royal Mail and ITV in pole position for promotion? May 19, 2021 Royal Mail and ITV look to be strong contenders for promotion to the index of the UK’s 100 biggest public companies during next month’s FTSE reshuffle. ITV, which has been boosted by the return of ad revenue, is considered a strong outsider to inch back into the top flight, according to analysis from Hargreaves Lansdown. [...]
UK tech industry grows tenfold in last decade as London leads Europe May 19, 2021 The UK tech industry has expanded tenfold over the last 10 years as London continues to close the gap on Silicon Valley. Between 2010 and 2020 the number of British unicorns — private tech firms valued at more than $1bn — grew from eight to 81, while the number of companies nearing unicorn status also [...]
We must open up venture capital investment to pension funds to deliver for British savers May 11, 2021 Darktrace’s IPO was a relief to investors and founders considering a float on the London market, doing much to take away the bitter aftertaste left by Deliveroo’s lacklustre debut at the start of April. Yet even this very British success story, founded by expert mathematicians in Cambridge and invested in by some of the UK’s [...]
Boom time for Boohoo: Online retail giant to unveil soaring lockdown sales April 30, 2021 Boohoo is expected to reveal a surge in sales as house-bound shoppers swapped dresses for jogging bottoms. The online retailer will also unveil the initial impact of its rescue deals for the Debenhams and three Arcadia brands – Dorothy Perkins, Burton and Wallis – which it snapped up earlier this year. Investors will be hopeful [...]
London IPO: Darktrace shares surge 40 per cent on market debut April 30, 2021 Shares in UK tech darling Darktrace soared on their London debut, jumping as much as 42 per cent higher than their initial listing price, in an IPO that valued the company at £1.7bn. Darktrace this morning said shares were priced at 250p in its London IPO, the midpoint of the range. Upon the opening bell shares traded [...]
Darktrace races out of the blocks: A boost for London’s IPO market after Deliveroo’s flop April 30, 2021 In a welcome boost for the London IPO market after the Deliveroo flop, UK cybersecurity company Darktrace launched this morning well above its initial price of 250p per share, jumping sharply to 350p in opening trade. There were early indications that the initial valuation might be higher than this, at around £3bn, however it appears that [...]