Intel Capital, Imagination Technologies' largest shareholder, has cut its share from 14% to 5%, causing the microchip maker's stock to fall.
Intel Capital, the investment arm of semiconductor manufaturer Intel, has reduced its stake in UK-based semiconductor technology company Imagination Technologies from 14% to 5%, selling £51.2m ($87.8m) of stock.
Intel sold 25 million shares priced at £2.05 ($3.51) each. Credit Suisse, Jefferies International and JP Morgan conducted the sale, which has caused Imagination’s stock to sink from £2.51 on June 24th to £2.15 at time of publication.
Intel Capital will retain a 5% stake in Imagination. It initially boosted its…
