Sophos has set a share price of 225p per share for its IPO, valuing the company at £1 billion.
The Oxfordshire-based cybersecurity company will float on the London Stock Exchange in July in a transaction expected to raise around $125 million.
25 percent of Sophos’s shares will be publicly traded in the deal, with Sophos’s largest shareholders, the ‘Apax Funds’ holding 40.1 percent of the Shares and the founders holding 18.9 percent. Investcorp will hold on to 2.5 percent and the directors 1.7 percent.
Sophos said in a statement that the proceeds will be used to "reduce overall indebtedness and provide the Company with greater financial flexibility to drive the future growth of the business."
J.P. Morgan Cazenove and Morgan Stanley are acting as joint global coordinators and joint bookrunners on the deal, with J.P. Morgan Cazenove also acting as sponsor. In addition, Deutsche Bank and UBS are acting as joint bookrunners.
Kris Hagerman, Sophos CEO, commented: "Today marks a significant milestone for all of us at Sophos. We are proud to be part of Britain’s growing tech economy as a listed business and a leading global provider in the cybersecurity sector.
"Working with our 15,000 channel partners worldwide, we look forward to the next stage of our development as a public company – and to continuing to deliver "complete IT security made simple" for enterprises of any size."
