Michael Dell, Chairman and CEO of Dell Technologies.

Five years ago, Austin’s top technology company, Dell went private in a deal valued at $24.4 billion.

And Monday, that same company, now known as Dell Technologies, announced that it is going public and its stock will be listed on the New York Stock Exchange.

Dell Technologies plans to exchange each share of Dell Technologies Class V tracking stock for 1.3665 shares of Dell Technologies Class C common stock, or $109 in cash, up to a total of $9 billion.

VMWare’s board of directors has voted to declare an $11 billion cash dividend to all its shareholders with Dell Technologies’ share being approximately $9 billion.

Michael Dell, who currently owns 72 percent of Dell Technologies common shares, will continue to serve as Chairman and CEO.

“I am proud to lead this great company into its next chapter as we continue to evolve and grow to the benefit of our customers, partners, investors and team members,” Dell said in a news release. “Unprecedented data growth is fueling the digital era of IT, and we are uniquely positioned with our portfolio of technologies and services to enable the digital, IT, security and workforce transformations of our customers. Most importantly, I remain deeply committed to this company and working with our world-class team to build the long-term value of Dell Technologies and its businesses.”

Silver Lake, which partnered with Dell in 2013 to execute the largest privatization in the history of the technology industry, currently owns 24 percent of Dell Technologies’ common shares and as part of this transaction will maintain the entirety of its investment in the company.

The proposal is subject to shareholder approval. It is expected to close by the end of the year.