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INTEL CORPORATION

(INTC)
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McAfee looks to raise up to $814 mln in U.S. IPO

10/13/2020 | 12:56pm EDT

Oct 13 (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)


ę Reuters 2020
Stocks mentioned in the article
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AIRBNB, INC. 1.21% 152.52 Delayed Quote.2.66%
CITIGROUP INC. -1.82% 67.61 Delayed Quote.11.68%
DOORDASH, INC. 1.71% 167.33 Delayed Quote.15.25%
INTEL CORPORATION -2.64% 55.67 Delayed Quote.14.85%
MORGAN STANLEY -4.35% 84.09 Delayed Quote.28.28%
THE GOLDMAN SACHS GROUP, INC. -3.50% 348.83 Delayed Quote.37.08%
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Financials (USD)
Sales 2021 72 651 M - -
Net income 2021 16 644 M - -
Net Debt 2021 15 054 M - -
P/E ratio 2021 14,0x
Yield 2021 2,43%
Capitalization 231 B 231 B -
EV / Sales 2021 3,39x
EV / Sales 2022 3,35x
Nbr of Employees 110 600
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
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 48
Average target price 65,31 $
Last Close Price 57,18 $
Spread / Highest target 48,7%
Spread / Average Target 14,2%
Spread / Lowest Target -30,0%
EPS Revisions
Managers and Directors
NameTitle
Patrick P. Gelsinger Chief Executive Officer & Director
George S. Davis Chief Financial Officer & Executive Vice President
Omar S. Ishrak Independent Chairman
Daniel J. McKeon Vice President-Information Technology Group
Ann B. Kelleher Senior Vice President & GM-Technology Development
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