Quantexa considers UK or US IPO

British AI company Quantexa is considering a multibillion-dollar stock market listing in Britain or the United States, according to CEO Vishal Marria. The company has been 'IPO-ready' since January but has not decided on timing and could remain privately held. A US listing would further dent London's stock market, which has seen a string of companies opt for US exchanges. Marria noted the US offers a deeper pool of capital and potential for higher valuation. Meanwhile, minority shareholder Warburg Pincus is working with adviser Citigroup to explore options for its 9-10% stake, including a possible sale, with an auction expected later this year. Quantexa was valued at about $2.6 billion last year after a $175 million Series F round led by Teachers Venture Growth. The company also announced a £175 million contract with United Kingdom — HM Revenue and Customs and is competing for the NHS's single patient record programme.