Cybersecurity
Darktrace to Cut Valuation of Its London Flotation, Sky Says
Nicole Eagan, chief executive officer of Darktrace Ltd., speaks during the Bridge Forum in San Francisco, California, U.S., on Tuesday, April 16, 2019.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
British cybersecurity company Darktrace Plc is cutting the value of its imminent London flotation as it adopts a cautious approach aimed at avoiding a repetition of Deliveroo’s disastrous public debut, Sky News reported citing people it didn’t identify.
Darktrace and its advisers are leaning toward a price range that will put a valuation of about 2.4 billion pounds ($3.3 billion) to 2.7 billion pounds ($3.75 billion) on the loss-making company, Sky said.