Shares in Cambridge cybersecurity company Darktrace leapt as much as 40% in their first day of trading on the London Stock Exchange on Friday, following an initial public offering that raised £165 million.
IPO values Darktrace at £2.2 billion
The firm began the day with a market capitalisation of about £1.7 billion, selling shares at 250p. But the shares rocketed from their opening price to 350p, eventually closing at 330p, and according to the Financial Times, giving the company a market capitalisation of £2.2 billion.
Claire Ruskin, Cambridge Network's Executive Director, said: "Darktrace has been a member of Cambridge Network during its phenomenal growth, from start-up to flotation in less than a decade. We are delighted to see Poppy [Gustafsson, Darktrace chief executive] and her team building such a brilliant business."
Unconditional dealings begin later this week (6 May).
See also: Darktrace shares jump 32% in IPO
Darktrace is the world's leading AI company for cyber security.