This company makes cybersecurity software for individuals and businesses. It specialises in antivirus software.
McAfee Details IPO Plans In New SEC Filing
The cybersecurity company, which was publicly listed until its 2011 acquisition by Intel, hopes to raise up to $814 million via the sale of shares held by the company and by its current shareholders.
I had a small, residual position in McAfee from a previous swing trade on their special dividend. This was a nice surprise to enable me to fully close the position out.
Pity as I felt there was potential for that stock to trend downwards when looking at the fundamentals, my intention was to reinvest at value down the line in the hope a takeover would come later. Still, seems like a good move for all concerned, almost all investors should be up (even those who bought at the absolute peak just for the special dividend should be a couple of percentage points up), it secures their financial future, and it’s a strong brand.