Without the usual hype of an IPO, Dell Technologies is a public company once again. Per a report 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…”
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.
