British artificial intelligence company Quantexa is weighing a multibillion dollar stock market listing in either the United Kingdom or the United States, as it prepares for a potential public offering, Chief Executive Vishal Marria told Reuters.
Marria said the company could list in the UK, the US or potentially both markets, although it has yet to decide when to proceed and could remain privately owned.
Quantexa has been “IPO ready” since January, Marria said, but he declined to provide a timeline for a potential listing.
A US listing would add to concerns over London’s ability to attract major technology companies, following a series of businesses choosing American stock exchanges. Marria said the US market offers access to a deeper pool of capital and could support a higher valuation than the UK.
Founded in 2016, Quantexa develops AI software that helps organisations analyse and organise large volumes of data. Its technology is used by financial institutions, healthcare providers and government agencies for applications including fraud detection and the prevention of financial crime.
Leave a comment