McAfee raises $620 mn in US IPO

McAfee raised $620 mn by selling share at $20 a piece in Wednesday IPO’s valuing the firm at $8.6 bn.The company, which had aimed to sell 37 mn shares at $19-22 per piece, had a debt of $4.8 bn by the end of June. McAfee’s revenue in 2019 was $2.6 bn with a net loss of $236 mn. In the H1 of 2020, McAfee’s revenue reached $1.4 bn, while net income was $31 mn. TPG, in 2016, acquired a majority stake in McAfee from Intel valuing the company at $4.2 bn.

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