Dell Returns To Public Markets After 5 Years In Private Hands
|Dell CEO Michael Dell
image : Dell
Dell has begun trading on the public stock market after listing on the NYSE this Friday under the symbol ‘DELL’, a move achieved through a buyback of shares that tracked financial performance of VMware, a firm it holds a majority stake in.
The buyback deal involved cash and stock, worth nearly $24 billion and allowed it to sidestep a traditional listing process which would likely have seen scrutiny from investors concerning Dell’s debt pile. Dell has been leveling down its debt, majority of which was issued for its 2015 $67 billion purchase of EMC.
|image : Dell|
Dell is trading at around $45 (as of writing) on the New York Stock Exchange, It opened at $46 and hit a low of $44.77 during trading today. According to the Wall Street Journal, Silver Lake Partners, a key backer in Dell’s 2013 buyout is retaining its 24% stake in the company.