Dell Goes Public Again with VMWare Share Buyback

Subject: General Tech | December 28, 2018 - 12:55 PM |
Tagged: vmware, stock, public, NYSE, IPO, Dell Technologies, dell

Without the usual fanfare of an IPO, Dell Technologies is a public company once again.

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As reported by Reuters:

"Dell Technologies Inc shares opened at $46 on Friday, giving the computer maker a valuation of $16 billion in its return to public market, after it bought back shares tied to its interest in software maker VMware.

Its Class C shares were last trading at $46.25, while VMware’s shares rose nearly 2 percent to $157.2. The tracking stock was tied to an 81 percent economic stake in VMware and buying it back allowed Dell to bypass the traditional IPO process..."

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Current Dell stock price at time of writing

This move comes nearly six years after founder Micheal Dell took the company private in a $24 billion USD buyout with funding from Silver Lake and Microsoft, and also at a time when Dell's consumer PC division is on the rise:

"The company reported a 15 percent rise in revenue in its latest quarter, with revenue from products such as desktop PCs, notebooks and tablets, and branded peripherals, rising 11 percent."

Source: Reuters