Subject: General Tech | December 28, 2018 - 12:55 PM | Sebastian Peak
Tagged: vmware, stock, public, NYSE, IPO, Dell Technologies, dell
Without the usual fanfare of an IPO, Dell Technologies is a public company once again.
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..."
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."