IT security firm Sophos plans London listing

Reuters News
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Posted: Jun 03, 2015 2:47 AM

(Reuters) - IT security products provider Sophos Group Plc said it plans to raise about $100 million via a public listing on the London Stock Exchange.

The company, which offers protection against IT security threats, said it expected the initial public offering to be launched in early July.

Sophos, which primarily focuses on mid-market enterprises with between 100 and 5,000 employees, said net proceeds from the IPO would be used to reduce debt.

Group net debt stood at $318.8 million as of April-end, the company said.

(Reporting by Aashika Jain in Bengaluru; Editing by Anupama Dwivedi)