Intel To Offload Mobileye Stake Worth $1.5B, Retain 88% Post Sale
Portfolio Pulse from Anusuya Lahiri
Intel Corp's subsidiary, Intel Overseas Funding Corp, is set to offload 35 million shares of Mobileye Global Inc worth $1.48 billion. Following the sale, Intel will retain an 88% stake in Mobileye. Mobileye's stock has gained close to 30% YTD.
June 06, 2023 | 12:58 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Intel is offloading 35 million shares of Mobileye worth $1.48 billion. Mobileye's stock has gained close to 30% YTD.
The sale of 35 million shares by Intel may create a short-term negative impact on Mobileye's stock price due to the increased supply of shares in the market. However, the stock has been performing well with a 30% YTD gain.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Intel is offloading 35 million shares of Mobileye worth $1.48 billion, retaining an 88% stake post-sale.
Intel is selling a portion of its Mobileye stake, but will still retain a significant 88% stake in the company. This action may not have a strong short-term impact on Intel's stock price, as it is not a complete divestment.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100