Sophos leaps into U.K. equity market with £1.01 billion valuation
British security software firm Sophos Group PLC is entering the U.K. equity market with a valuation of £1.01 billion ($1.58 billion). Sophos said Friday shares priced at £2.25 ($3.54) each, raising proceeds of £125 million. Sophos shares began trading on a conditional basis Friday, and rose 6% to £2.39 in late-morning dealings. The offer of 156.5 million shares represents 34.8% of the Oxfordshire-based company. Full trading in Sophos shares will begin on July 1.
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