Mimecast says changes to rules may see it float in London
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Your support makes all the difference.One of Britain's fastest-growing technology companies has said the chances that it could float on the London stock market have increased after the Government signalled that it could ease listing rules.
Cloud-computing specialist Mimecast, which has just been valued at more than $300m (£185m) after a new fund raising, said an initial public offering was a "desirable milestone" in the next few years.
Peter Bauer, the chief executive, admitted that Mimecast was more tempted to float in New York but a more positive approach by City regulators could change that.
"There is a gravitational force towards the US stock market," Mr Bauer admitted. "But certainly some of the recent developments and statements of intentions around the London Stock Exchange from the Government – and also in response to the lobbying that our investor, Index Ventures, has been doing – have put the LSE back on the radar for us as a consideration."
Mr Bauer was speaking as Mimecast reported that it had raised $62.25m from Insight Venture Partners and Dawn Capital.
The London-based firm, which specialises in email management, archiving and security for more than 6,000 clients, claimed the fund raising represented "one of the largest investments in a UK technology firm" in recent years. Mr Bauer and his co-founder Neil Murray – who are both from South Africa – set up Mimecast in 2003 and plan to use the new cash to expand in the US.
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