Tuesday, September 27News That Matters
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Tag: float

Darktrace float to crystallise £20m stake for chief Gustafsson

Darktrace float to crystallise £20m stake for chief Gustafsson

Business
Cyber security company Darktrace will on Monday fire the starting gun on a £3bn London flotation - crystallising a stake worth tens of millions of pounds for its 38-year-old chief executive.Sky News has learnt that Darktrace's board plans to issue an expected "intention to float" announcement before the stock market opens on Monday morning. The listing will provide another acid test of investors' appetite to embrace technology company flotations in London, following the disastrous debut of Deliveroo, the food delivery app, earlier this month.Darktrace's float is likely to value the company at between £2.5bn and £3bn, with chief executive Poppy Gustafsson's shareholding likely to be valued in the region of £20m.The filing of its registration documents will mean that Darktrace's shares will ...
Line Of Duty returns: We didn’t float up the Lagan in a bubble – here’s everything you need to know

Line Of Duty returns: We didn’t float up the Lagan in a bubble – here’s everything you need to know

Entertainment
For the DIR, for the next few weeks we're only interested in one thing here and one thing only - and that's catching bent coppers.Line Of Duty fans, almost two years since we last visited AC-12, the wait is finally over. Not since Game Of Thrones' controversial swansong has there been such feverish anticipation around a TV series' return. Thanks to its tense and twisty scripts, stellar performances from core stars Adrian Dunbar, Vicky McClure and Martin Compston, and a roster of brilliant guest actors - plus Superintendent Ted Hastings' knack for an incredibly quotable catchphrase, fella - it has become one of the biggest shows on British TV. Image: 'Can we go through those acronyms one more time?' Kelly Macdonald joins the cast as DCI Joanne Da...
Barclays weigh £3bn float of online retailer Very Group

Barclays weigh £3bn float of online retailer Very Group

Business
The proprietors of The Daily Telegraph have begun exploring plans for a £3bn-plus flotation of Very Group, their booming online retail operation.Sky News has learnt that the Barclay family is at the early stages of examining whether to take Very to the public markets in order to capitalise on exploding investor interest in digitally led retailers. Insiders said that the family had started evaluating such a move prior to the unexpected death this week of Sir David Barclay, who with his twin brother Sir Frederick had built one of Britain's biggest private business empires.A decision about an initial public offering (IPO) of Very Group is not thought to be imminent, but sources close to the family acknowledged that it was under more serious contemplation than at any previous point. ...
Goldman snubs £2bn Darktrace float amid extradition fight

Goldman snubs £2bn Darktrace float amid extradition fight

Business
The Wall Street bank Goldman Sachs is to snub the £2bn flotation of one of Britain’s fastest-growing technology companies amid US prosecutors' efforts to extradite its biggest investor.Sky News has learnt that Goldman has declined to seek a role on the initial public offering (IPO) of Darktrace, a leading player in the provision of artificial intelligence (AI) cybersecurity services. Banking sources said that executives at Goldman had raised concerns about the ongoing legal ramifications of billionaire Mike Lynch's $ 11bn sale of the software company Autonomy to Hewlett Packard (HP) in 2011.Mr Lynch, one of the most prominent figures in Britain's technology industry, faces an extradition hearing early next year following the decision by US authorities to charge him with 17 counts of securi...
Regus-owner IWG targets WeWork with £3bn US float

Regus-owner IWG targets WeWork with £3bn US float

Business
By Mark Kleinman, City editor The tycoon who founded International Workplace Group (IWG), the world's largest shared office provider, is hatching a secret plot to spin off its US business into a separately listed company in New York.Sky News has learnt that Mark Dixon, IWG's chief executive, is in talks with investment banks about creating a standalone business that would become a publicly traded rival to WeWork, the US unicorn targeting a valuation of about $ 50bn when it floats in the coming weeks. Image: Mr Dixon is plotting to rival to WeWork in America IWG is understood to have told bankers that it will only hire them if they have no role in WeWork's initial public offering (...