US technology company SmartStream is set for a £100m (€147.9m) initial public offering in London amid renewed appetite for tech stocks which are believed to have very low exposure to sub-prime issues. The move will make it the biggest tech company to float in the UK since last June, and one of the largest since 2001.

SmartStream, backed by US-based growth capital firm TA Associates, is set to list on the London stock exchange led by Citi. TA Associates is set to nearly triple its return as the firm is expected to be valued at between £250 and £300.