Dell debuts at $46 in return to market

Dell debuts at $46 in return to market
FILE PHOTO: Dell logos are seen at its headquarters in Cyberjaya, outside Kuala Lumpur in this September 4, 2013 file photo. REUTERS/Bazuki Muhammad/Files -
Bazuki Muhammad(Reuters)
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(Reuters) – Dell Technologies Inc’s <DELL.N> Class C shares opened at $46 in their return to public markets on Friday, after the company bought back shares tied to its interest in software maker VMware <DVMT.N> earlier in the month.

Dell bought back its shares for $23.9 billion, up from its earlier offer of $21.7 billion. The deal, which was announced in July, allowed Dell to become a publicly listed company without an initial public offering, which would likely have involved grilling by stock market investors over Dell’s $52.7 billion debt pile.

(Reporting By Aparajita Saxena in Bengaluru; Editing by Shinjini Ganguli)

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