McAfee’s IPO Raises $740 Million in Return to Stock Market (2)

McAfee Corp. and its shareholders raised $740 million in an initial public offering priced within a targeted range as the cybersecurity software provider returns to the stock market.

The company and some of its investors sold 37 million shares for $20 apiece Wednesday, according to a statement. McAfee had marketed 31 million shares for $19 to $22, while its shareholders offered 6 million shares.

McAfee is valued in the IPO at about $8.6 billion based on the outstanding shares listed in its prospectus.

The company, based in San Jose, California, was acquired by Intel Corp. in a 2010 deal. ...