Darktrace tumbles as Vitruvian Partners sells 11m shares

Darktrace tumbled on Wednesday after private equity firm Vitruvian Partners sold 11m shares in the cybersecurity group in a placing.

The shares were sold at 580p each, raising gross proceeds of around £63.8m.

Following completion of the placing, Vitruvian will hold just over 20.8m ordinary shares in aggregate, which is a stake of around 2.99%.

Berenberg and Morgan Stanley acted as joint global co-ordinators and joint bookrunners.

At 0805 GMT, the shares were down 7.7% at 584.00p.