British data group Quantexa explores UK or US IPO, sources say

By Amy-Jo Crowley

LONDON, Aug 18(Reuters) - British artificial intelligence company Quantexa is considering a multibillion-dollar stock market listing in Britain or the United States, its chief executive told Reuters. 

"We can list in the UK or the U.S., or both," Vishal Marria said, adding that the company has not decided when to pursue a public offering and could remain privately held.

A U.S. listing would deal a further blow to London's stock market, which has seen a string of companies opt for U.S. exchanges. Marria said the U.S. offers a deeper pool of capital and the potential for a higher valuation than the UK.

Marria said Quantexa has been "IPO-ready" since January but declined to comment on the timing of any IPO.

Founded in 2016, Quantexa's AI software helps organisations, including financial institutions, healthcare providers and government agencies, organise and analyse large volumes of data for uses including fraud detection and financial crime prevention.

(Reporting by Amy-Jo Crowley. Editing by Anousha Sakoui and Mark Potter)