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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Intel Corporation    INTC

INTEL CORPORATION

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McAfee looks to raise up to $814 million in U.S. IPO

10/13/2020 | 12:59pm EST

(Reuters) - Cyber security firm McAfee Corp said on Tuesday it is looking to raise up to $814 million in its U.S. initial public offering.

The company, which was carved out of Intel Corp four years ago, will sell nearly 31 million shares, while the selling stockholders will offer about 6 million shares in the IPO, according to a regulatory filing https://www.sec.gov/Archives/edgar/data/1783317/000119312520268184/d89887ds1a.htm.

It is targeting a price range of $19-$22 per share, with the top end of the range valuing the firm at $9.5 billion.

Short-term home rental company Airbnb and food delivery firm DoorDash are also gearing up to go public later this year, as the IPO market rebounds sharply after coronavirus-driven economic uncertainty brought it to a halt in April.

Buyout firm TPG had acquired a majority stake in McAfee from Intel in 2016 in a deal which valued the company at $4.2 billion, including debt.

McAfee said in the filing that a portion of the proceeds would be used to pay down a part of the debt.

Morgan Stanley, Goldman Sachs, TPG Capital BD, BofA Securities and Citigroup are the lead underwriters for the offering.

(Reporting by C Nivedita in Bengaluru; Editing by Devika Syamnath)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CITIGROUP INC. 7.05% 57.06 Delayed Quote.-28.58%
INTEL CORPORATION 2.06% 47.01 Delayed Quote.-23.04%
MORGAN STANLEY 5.53% 63.6 Delayed Quote.24.41%
THE GOLDMAN SACHS GROUP, INC. 3.79% 237.5 Delayed Quote.-0.48%
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Financials (USD)
Sales 2020 75 333 M - -
Net income 2020 19 309 M - -
Net Debt 2020 21 979 M - -
P/E ratio 2020 10,3x
Yield 2020 2,82%
Capitalization 193 B 193 B -
EV / Sales 2020 2,85x
EV / Sales 2021 2,90x
Nbr of Employees 110 800
Free-Float 99,9%
Chart INTEL CORPORATION
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Intel Corporation Technical Analysis Chart | INTC | US4581401001 | MarketScreener
Technical analysis trends INTEL CORPORATION
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 43
Average target price 54,11 $
Last Close Price 47,01 $
Spread / Highest target 113%
Spread / Average Target 15,1%
Spread / Lowest Target -23,4%
EPS Revisions
Managers
NameTitle
Robert Holmes Swan Chief Executive Officer & Director
Omar S. Ishrak Independent Chairman
Ann-Marie Holmes Vice President-Operations & Manufacturing
George S. Davis Chief Financial Officer & Executive Vice President
Daniel J. McKeon Vice President-Information Technology Group
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