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
(Reporting by C Nivedita in Bengaluru; Editing by Devika