McAfee readying IPO to raise $1B or more – report

Wednesday, 10. July 2019 20:48

McAfee Llc is seeking market capitalization of over $5 billion, according to anonymous insiders who revealed to the Wall Street Journal that the antivirus maker based in California is looking to return to the stock exchange for the first time since it was taken private three years ago. The aim is to raise "at least $1 billion" and representatives of the owners – buyout companies TPG and Thoma Bravo, turned to bankers for a plan for an initial public offering, said the report published on Wednesday.

The float could occur this year, the sources added. The said sums compare to the market cap of $2.15 billion and $4.2 billion in enterprise value at the time of the takeover when TPG agreed to purchase 51% from Intel Corp., which still controls a stake. The people in the room claimed cash flows have improved due to factors including acquisitions.

Related Links: Intel Corporation
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