McAfee Files for Nasdaq IPO

Cyber security company McAfee Corp. has filed to get listed in the United States stock markets under the ticker MCFE. The data security provider is seeking to capitalize on how the markets are rebounding following from a slump several months ago attributed to the pandemic.

The company did not disclose the amount of shares or their price range in the IPO however it set a placeholder amount of $100 million.

In the IPO, TPG Capital BD, Citigroup, Morgan Stanley, BofA Securities and Goldman Sachs will serve as underwritters.

Over the years McAfee has successfully managed to expand its main cyber security software business. The business focuses on consumers via good retention rates, new partner programs and price increases.

Back in 2016, buyout firm TPG acquired a majority stake in McAfee from Intel Corp (INTC) giving the company a market valuation of $4.2 billion including debts.

In 2019, revenue of the company increased by 9.4% to $2.64 billion, McAfee also managed to cut down its net losses to $236 million from $512 million from the previous year.

 

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