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Cyber security company McAfee Corp raises $620 million in US IPO

Cyber security firm McAfee Corp sold shares in its initial public offering (IPO) on Wednesday at $20 a piece, within its target range, to raise $620 million

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McAfee | cyber security | IPOs

Reuters 

(Reuters) - Cyber security firm McAfee Corp sold shares in its initial public offering (IPO) on Wednesday at $20 a piece, within its target range, to raise $620 million. The IPO valued McAfee, which is backed by U.S. private equity firms TPG and Thoma Bravo, at $8.6 billion based on total outstanding shares. The company also had $4.8 billion in debt as of the end of June. McAfee had aimed to sell 37 million shares at a target price range of $19-$22 per share. McAfee declined to comment. TPG acquired a majority stake in McAfee from Intel Corp in 2016 in a deal which valued the ...

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First Published: Thu, October 22 2020. 08:13 IST
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