Smarttech247 set for stock market flotation at valuation of over £30m

The IT security company has opted to achieve its listing by a direct IPO, which allows it to list its shares without raising any money

Ronan Murphy, chief executive of Smarttech247: shares to be listed directly at the end of the month. Picture: Cathal Noonan

Smarttech247, one of Ireland’s top IT security firms, is planning to list on the stock exchange next month at an estimated valuation of £34.5 million.

The company, which was founded in 2012 and is headquartered in Cork, had been in the middle of negotiating a reverse-takeover deal with Conduity Capital, which would have given it a listing on London’s alternative investment market (AIM).

However, last week it was announced that Smarttech247 had decided it would ...