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IT

SecureWorks prices IPO below indicated range - report

Friday 22 April 2016 | 10:56 CET | News
SecureWorks, the cybersecurity arm of Dell, priced its IPO at USD 14 per share, raising USD 112 million through the sale of 8 million shares, people familiar with the matter told the Wall Street Journal. It had targeted a sale of 9 million shares at USD 15.50-17.50 each. The roadshow for the offering reportedly encountered skepticism due to the company's lack of profitability and the recent poor performance of rivals, the report said. The company had USD 72.4 million in net losses in fiscal 2016, compared with USD 38.5 million the year before. Its shares are expected to start trading 22 April

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Categories: Internet / IT
Companies: Dell EMC / SecureWorks
Countries: World
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