UK cyber-firm Darktrace says IPO set for early May

LONDON (Reuters) - British cyber-security firm Darktrace said on Monday its planned $4 billion premium listing on the London Stock Exchange would take place in early May. Darktrace, backed by tech entrepreneur Mike Lynch, aims to raise new funds to accelerate product development and strengthen its balance sheet. The technology company, founded in 2013 in the university city of Cambridge, uses AI to understand IT networks and detect attacks by identifying unusual behaviour.