IT security product-maker Sophos Group said it plans to raise about $100 million in an initial public offering on the London Stock Exchange.
The company, which expects admission of its shares in early July, had pulled out from potential floats in 2007 and 2009.
"We think the atmosphere for technology companies in the UK is strong, and is only getting stronger," chief executive Kris Hagerman said during a conference call yesterday.
He declined to comment on the expected valuation of the potential floatation.
Yet Sophos, majority-owned by Apax Partners, said it expects to have a free float of at least 25% after its admission on the FTSE-250 index.
Apax Partners was aiming at listing the business at £1 billion ($1.53 billion), the Telegraph reported in February.
Sophos, which primarily focuses on mid-market enterprises with 100 to 5 000 employees, plans to use the proceeds to reduce debt, which stood at $318.8 million at April-end.
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