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Cybersecurity Provider Exclusive Networks to Seek Paris Listing

·1 min read

(Bloomberg) -- Exclusive Networks is targeting an initial public offering on Euronext Paris, adding to a growing list of cybersecurity specialists tapping European investors this year.

The company is looking to raise as much as 260 million euros ($309 million) by selling new shares, according to a statement Friday. Holders including private equity firm Permira Holdings, which acquired a majority stake in the company in 2018, will also offer stock in the deal.

Proceeds will be used to fund growth, including acquisitions, Chief Executive Officer Jesper Trolle said in a phone interview. Demand for cybersecurity is growing as more people work outside of the office, boosting the need for protection amid rising levels of cybercrime, he said.

The listing comes months after Darktrace Plc debuted on the London Stock Exchange. The cybersecurity firm’s shares have shot up 173% since it started trading in April. Peer SentinelOne Inc., which listed in New York at the end of June, has also seen its stock rise 96%.

Exclusive Networks links big cybersecurity technology developers with companies looking to keep their data and reputations safe. The firm reported gross sales of 2.9 billion euros in 2020, and earnings of 108 million euros.

The company on Friday filed a registration document with the French markets regulator AMF. The IPO is subject to market conditions and approval of a prospectus.

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