GE is selling $58m of shares in the Dell EMC spinout, which is also backed by Ford and VMware, as it prepares to float in the middle of its range.
Pivotal Software, the US-based software development services provider spun out by virtualisation technology provider EMC prior to its acquisition by computing equipment maker Dell, priced a $555m initial public offering today.
The company priced 37 million shares at $15 each, the middle of the IPO range. It is issuing 33.1 million shares which will raise approximately $497m, while industrial manufacturing conglomerate General Electric (GE) will sell almost 3.9 million shares for a total of $58.2m.
Pivotal has created a…
