{"id":34215,"date":"2018-04-09T20:41:20","date_gmt":"2018-04-09T20:41:20","guid":{"rendered":"http:\/\/icloud.pe\/blog\/?guid=e4da80150e58f4bcf9e2547c0139cf1b"},"modified":"2018-04-09T20:41:20","modified_gmt":"2018-04-09T20:41:20","slug":"pivotal-launches-ipo","status":"publish","type":"post","link":"https:\/\/icloud.pe\/blog\/pivotal-launches-ipo\/","title":{"rendered":"Pivotal launches IPO"},"content":{"rendered":"


\n Clare Hopping<\/a><\/span>
\n <\/span><\/p>\n

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10 Apr, 2018<\/span><\/div>\n<\/p><\/div>\n<\/div>\n

\n<\/a><\/p>\n

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Dell’s Pivotal offshoot has launched its IPO, with an anticipated share value of up to $592 million (\u00a3420 million) if its\u00a037 million Class A shares sell for the estimated $14 (\u00a310) to $16 (\u00a311) per share. It will also free up\u00a05.6 million more shares for its underwriters to buy if it takes their fancy.<\/p>\n

The company will trade under the ticker symbol \u201cPVTL\u201d with Goldman Sachs and Citigroup leading the sales. Bank of America Merrill Lynch, Barclays, Credit Suisse, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities are also involved as book-running managers.<\/p>\n

Pivotal filed for IPO back in March<\/a> and although its major motivation behind going public is to raise some desperately needed funds to stop it being sold, Dell will keep its controlling share through its other subsidiary companies such as VMware.<\/p>\n

If Pivotal doesn’t raise the capital needed to bring it back from the edge, Dell may be forced to sell it, as the giant hopes to claw back some money from its rather large splurge on EMC two years ago. Pivotal posted a net loss of $163.5 million (\u00a3116 million) last financial year, which although is an improvement on its previous year’s losses of\u00a0$232.9 million (\u00a3165 million), it’s still not as buoyant as Dell would like.<\/p>\n

Another option for Dell is to de-merge with VMware, although the company denied that was an option back in February.<\/p>\n

Dell and Silver Lake Partners bought the software firm back in 2013 for a cool $25 billion (\u00a318 billion), although alongside its purchase of EMC, it left the company in\u00a0$38 billion (\u00a327 billion) up to February this year. <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Clare Hopping<\/p>\n

10 Apr, 2018 <\/p>\n

Dell’s Pivotal offshoot has launched its IPO, with an anticipated share value of up to $592 million (\u00a3420 million) if its\u00a037 million Class A shares sell for the estimated $14 (\u00a310) to $16 (\u00a311…<\/p>\n","protected":false},"author":400,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-34215","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/34215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/users\/400"}],"replies":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/comments?post=34215"}],"version-history":[{"count":2,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/34215\/revisions"}],"predecessor-version":[{"id":34219,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/34215\/revisions\/34219"}],"wp:attachment":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/media?parent=34215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/categories?post=34215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/tags?post=34215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}