Trackable wristband firm Buddi eyes £500m London IPO

Trackable wristband firm Buddi is preparing for a floatation on the London Stock Exchange (LSE), at a valuation reported to around £500 million.

The firm, founded in 2005 by Sara Murray, makes wristbands for vulnerable people, which can detect falls and allow them to contact assistance if needed.

The founder claimed she was inspired to start the firm after losing her child in a supermarket.

Murray previously founded and worked in software development at GlaxoSmithKline and Procter & Gamble.

Buddi claims to provide technologies to support vulnerable individuals across more than 80 per cent of UK local authorities.

Investment bank Zeus Capital is set to oversee the listing planned for later this year.

The news comes amid a busy year for London IPOs for UK technology firms, with Moonpig, Trustpilot, and Deliveroo all listing on the LSE.

Deliveroo recently recorded the worst one-day performance in UK stock market history, dropping 30 per cent on the day it debuted, wiping £2 billion off its value.

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