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SecureWorks raises US$112m in year's first technology IPO

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Dell Inc's cyber security unit SecureWorks Corp raised US$112 million in the first US initial public offering of a technology company in 2016, less than it had hoped for, amid investor skepticism over its profit margins and prospects.

[NEW YORK] Dell Inc's cyber security unit SecureWorks Corp raised US$112 million in the first US initial public offering of a technology company in 2016, less than it had hoped for, amid investor skepticism over its profit margins and prospects.

SecureWorks priced 8 million shares on Thursday at US$14, missing its previously indicated US$15.50-US$17.50 range, according to a person familiar with the matter. The company was originally aiming to price 9 million shares.

The source asked not to be identified ahead of an official announcement. SecureWorks did not immediately respond to a request for comment.

REUTERS