The rocky ride for Darktrace since joining the FTSE 100 index continued today when a major investor dumped a third of its holding to send shares down by another 5%.
Deep Defence, part of private equity firm Vitruvian Partners, raised £63.8 million from the sale of 11 million shares at a price of 580p, a 9% discount to last night’s level of 632.5p.
The move, done via a placing process led by Berenberg and Morgan Stanley, represents a decent profit after the cyber security firm’s April flotation priced shares at 250p.
But Darktrace had been trading at 985p in mid-September, earning the company run by co-founder Poppy Gustafsson a place in the FTSE 100 index.
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