Dell has announced plans to take the company back to being publicly traded by Q4 this year.
The company, which delisted in 2013, said it believes that after a five-year strategic review, it has turned its financial performance around and that returning to the market will help accelerate growth.
Dell will not seek an IPO, but instead proposes to exchange a tracking stock in VMware, issued as part of Dell's takeover of EMC - and EMC's 80% controlling interest in VMware - for a newly issued stock in Dell.
In a letter to customers and partners, founder and CEO Michael Dell said: "Since joining forces with EMC and VMware in September 2016, the Dell Technologies family of businesses has outperformed the ambitious expectations we set for ourselves.
"After a thorough review by an independent special committee, we've decided to enter the public market by exchanging the outstanding Class V tracking stock, which was issued at the time of the Dell and EMC combination, for Dell Technologies common stock. This transaction will have little impact on our day-to-day operations other than simplifying our capital and ownership structure and providing public investors the opportunity to share in the value creation of Dell Technologies in its entirety."
Dell says holders of the tracking stock will end up owning 21% to 31% of the company after the exchange, depending on how many people choose cash or stock
Dell exited the market in 2013 through a private buyout by Michael Dell and private equity firm Silver Lake Partners.