Kainos’ IPO will value the UK software company at £161 million

Bredan Mooney

YouTube Screenshot

Brendan Mooney, CEO of Kainos.

Kainos, a nearly 30-year old provider of IT services, consulting and software solutions headquartered in Belfast, Northern Ireland, this morning priced its IPO at 139 pence per share. The company expects to list on the Main Market of the London Stock Exchange in the morning of 10 July 2015.

The offer is expected to raise £52.4 million of gross proceeds and will give Kainos a valuation of approximately £161.3 million.

Kainos Group, which counts Netflix, Diageo, Travelex and NHS trusts as clients, generated revenue of £60.8 million and profit before tax of £11.8 million in the fiscal year ended 31 March 2015.

Kainos specialises in a variety of digital technology solutions, software design and agile development as well as third-party software integration and implementation services. The company has approximately 730 staff across seven offices in the UK, Poland and the United States.

Full details of the offer will be shared in a prospectus, due later today.

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This article originally appeared at Tech.eu. Copyright 2015. Follow Tech.eu on Twitter.

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