Cambridge-based cybersecurity firm Chaleit Holdings is set to float on London’s Alternative Investment Market (AIM) on 7 October, becoming the second business to announce London listing plans on Wednesday.

The company expects to achieve a market capitalisation of around £11.2 million upon admission and aims to raise approximately £1.6 million in new capital, according to filings submitted to the London Stock Exchange. The final issue price and share allocation have yet to be confirmed.

The announcement coincided with mobile payments provider Airtel Money confirming plans for a larger London flotation targeting a valuation between £6 billion and £6.8 billion ($8 billion to $9 billion), seeking to raise around £600 million ($800 million) through existing shares. The dual announcements arrive following a period of limited activity on London exchanges, where seven companies had floated earlier this year, raising a total of £577 million.

Chaleit specialises in penetration testing, offensive security, artificial intelligence security, cloud infrastructure, and regulatory compliance. The firm operates across the UK, Australia, and the US, with planned expansion into Singapore later this year.

The company reports that it is profitable and cash-generative, intending to use net proceeds from the IPO to fund organic growth and international scaling.

Chief executive Professor Dan Haagman previously worked at the London Stock Exchange, where he developed early security operations infrastructure. Haagman and close relatives currently hold an 82 per cent equity stake in Chaleit, while chief financial and operating officer Jody Hyde and family members hold 10 per cent.

The company will be chaired by Ken Ford, former owner and chief executive of stockbroker Teather & Greenwood.

The planned public listing follows a broader trend of UK cybersecurity and software businesses tapping capital markets and institutional funds to expand technical infrastructure and scale international operations.

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