McAfee paid પ્રારંભ 20 a share in its initial public offering late Wednesday evening and will raise $ 740 million from the sale of 37 million shares. At that price, the total fee would be 6 8.6 billion. The company will trade on the Nasdaq under the ticker symbol MCFE.
McAfee was a public company before Intel (INTC) It was bought in 2011 for 7 7.7 billion. McAfee’s name was dropped a few years ago but was re-established after Intel sold a majority stake in it to private equity firm TPG, which now owns about 66% of the MAC fee.
McAfee enters life as a standalone firm at a time when software is in demand to protect consumers and businesses from viruses, ransomware, spyware, phishing, identity theft and other cybersecurity problems.
Earlier this year, McAfee hired a tech industry giant as CEO: Peter Leave, who previously ran BMC Software Software and Polycom Tech companies.
McAfee reported sales of 1.4 billion in the first six months of 2020, up 9% from a year earlier. It made a small profit in the first two quarters after losing money in the same period of 2019.
Intel could also benefit from the IPO. The chip giant still has a 7% stake in the fee and will sell some of its shares as part of the fur. Venture capital company Thoma Bravo and Singapore’s sovereign asset fund, GIC, also have a big stake in McAfee and will each sell a small portion of their shares.
Recently arrested in Spain and U.S. Founder John McAfee, who was accused of tax evasion by the company, has named the company a fee even though he no longer has it.
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