McAfee.com Corp, the PC anti-virus and security software provider set up by Network Associates, increased the expected proceeds it hopes to make from it initial public offering to about $62.8m, after costs, from $39.6m under earlier plans. McAfee upped the price range on the shares it plans to offer from $6 to $8 a share to $10-$12 in a pre-IPO filing with the US Securities and Exchange Commission yesterday. The increased windfall is based on the mid-point of the new range. The Santa Clara, California-based company has said it will use the net proceeds for general corporate purposes, including working capital. The IPO is provisionally expected to start trading today under the symbol, MCAF.
