London Stock Exchange welcomes Sophos
- Largest software IPO in UK history - Oxfordshire-based firm valued at £1bn
- UK Government welcomes IPO as a significant boost for Britain’s technology industry
- Raises total gross proceeds of £352m at IPO
- Confirms London’s leading role as global technology IPO centre
London Stock Exchange today welcomes Sophos, the global provider of cloud-enabled and network security solutions to the Main Market, following the company’s £1 billion IPO. Raising total gross proceeds of £352 million, including $125 million gross primary proceeds, it is London’s largest ever software IPO and one of the largest tech IPOs ever in the UK.
To celebrate the occasion, Kris Hagerman, CEO, Sophos was joined by Ed Vaizey MP, Minister of State for Culture and the Digital Economy, to open trading this morning at London Stock Exchange.
Ed Vaizey MP, Minister of State for Culture and the Digital Economy said:
“This is a landmark moment for the thriving UK technology sector. Sophos’ IPO on London Stock Exchange heralds a renaissance of technology investment in the UK and will provide valuable investment opportunities for British technology businesses.
“They have set a benchmark that I know other UK cyber companies in our vibrant sector will aspire to follow. I would like to wish Sophos every success and congratulate the company on reaching this point in its journey.”
Xavier Rolet, CEO, London Stock Exchange Group said:
“Ensuring that the UK’s fastest growing and most exciting technology companies have access to equity capital is a priority for London Stock Exchange. We’re delighted to welcome Sophos to open trading for us this morning. Its successful IPO confirms London’s position as one of the world’s leading technology centres and underlines the exceptional investor appetite for dynamic London-listed IT companies. We look forward to welcoming more fast growing British and international businesses to the London markets.”
Kris Hagerman, CEO, Sophos said:
“Sophos has built a strong business protecting over 200,000 organisations all over the world from the increasing threat of cybercrime. We are proud to be part of Britain's growing tech economy, as a global leader in the cyber security sector and now as a listed company on London Stock Exchange. Today, we look forward to the next stage of our development as a public company, and remain focused on Sophos’ continuing commitment to deliver complete IT security for enterprises of all sizes.”
London Stock Exchange has seen a significant increase in the number of technology IPOs. In 2014, technology companies raised £1.2 billion on the London markets at IPO.
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About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is a diversified international market infrastructure and capital markets business sitting at the heart of the world's financial community. The Group can trace its history back to 1698.
The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, a pan-European equities MTF. It is also home to one of the world’s leading growth markets for SMEs, AIM. Through its platforms, the Group offers international business and investors unrivalled access to Europe's capital markets.
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Following the acquisition of Russell Investments, LSEG conducted a comprehensive review of the investment management business to analyse its strategic fit with the Group. This was concluded in February 2015, and LSEG is now exploring a sale of the business in its entirety.
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