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McAfee goes public for around $ 740 million

D.he IT security company McAfee raised nearly $ 620 million from investors on its return to the stock exchange. Shareholders raised another $ 120 million from the sale of shares. McAfee set the issue price of the share on Thursday night at $ 20 – and thus closer to the lower end of the targeted range of $ 19 to $ 22.

McAfee, based in Santa Clara, California, is one of the pioneers in the IT security and antivirus industry, also known through the controversial founder John McAfee, with whom the company has long since had nothing to do with, apart from the name. The company, which was founded in 1987, was on the stock exchange until it was taken over by the chip giant Intel in 2010. Intel then paid $ 7.7 billion for McAfee, but released the company back into independence in 2017.

Stock exchange symbol MCFE

The initial listing is planned for this Thursday on the American technology exchange Nasdaq. The stock symbol on the stock will be “MCFE”. The syndicate banks in the issue include Morgan Stanley, Goldman Sachs Group, TPG Personal-Financial.com BD, Bank of America and Citigroup.

McAfee has been privately owned since then. The majority owner is the financial investor TPG, but Intel retained 49 percent. According to the prospectus, McAfee made in the six months to the end of June a net profit of 31 million dollars, the turnover was 1.4 billion dollars.

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