UK technology company Sophos's launch on the London Stock Exchange with a frenzy of investment that has won applause from Ed Vaizey, minister of state for culture and the digital economy.
The initial public offering (IPO) values the company at £1bn, and raised total gross proceeds of £352m, according to the exchange, after the company listed on Friday.
Technology companies raised £1.2bn on the London markets during IPOs in 2014, and Sophos' performance goes some way to boosting the UK's standing as a serious technology industry player.
"This is a landmark moment for the thriving UK technology sector," said Vaizey about a company that participates in government-sponsored cyber security work.
"Sophos' IPO on the London Stock Exchange heralds a renaissance of technology investment in the UK and will provide valuable investment opportunities for British technology businesses.
"They have set a benchmark that I know other UK cyber companies in our vibrant sector will aspire to follow. I would like to wish Sophos every success and congratulate the company on reaching this point in its journey."
The exchange welcomed Sophos to its trading platform. "Ensuring that the UK's fastest growing and most exciting technology companies have access to equity capital is a priority for the London Stock Exchange," said Xavier Rolet, chief executive of the London Stock Exchange Group.
"We're delighted to welcome Sophos to open trading for us this morning. Its successful IPO confirms London's position as one of the world's leading technology centres and underlines the exceptional investor appetite for dynamic London-listed IT companies.
"We look forward to welcoming more fast-growing British and international businesses to the London markets."
Sophos chief executive Kris Hagerman opened trading at the exchange this morning, saying that he was proud of his company and its position in the UK economy and the wider technology industry.
"Sophos has built a strong business protecting over 200,000 organisations all over the world from the increasing threat of cybercrime. We are proud to be part of Britain's growing tech economy as a global leader in the cyber security sector," he said.
"Today, we look forward to the next stage of our development as a public company, and remain focused on Sophos' continuing commitment to deliver complete IT security for enterprises of all sizes."
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