December 28, 2018 / 2:54 PM / 2 months ago

Dell debuts at $46 in return to market

Dec 28 (Reuters) - Dell Technologies Inc’s 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 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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