Kainos heads for London market with value over £160m
Kainos, a Belfast-based provider of IT services, has priced its IPO, giving it a value of more than £160m. Shares will be priced at 139p each.
The offer is expected to raise £52.4m of gross proceeds, giving Kainos a valuation of roughly £161.3m.
The company’s chief executive, Brendan Mooney, said in a statement:
The task for us now is simple – to maintain our growth trajectory. We have a clearly defined strategy in place to see that happen and are looking forward to life as a listed company.
Kainos is a provider of IT services, consulting and software solutions that counts Netflix, NHS trusts and Diageo among its clients. It saw a profit before tax of £11.8m in the last fiscal year.
The IT services company expects to list its shares on the main London market on 10 July.