Intel Sells 9.3% Stake In Imagination
Intel Capital has sold a 9.3% stake in Imagination, leaving it with a stake of about 5%.
Intel Capital said that the sale wouldn’t affect Intel’s commercial relationship with Imagination. Intel licenses Imagination’s GPU cores.
“This placing is being conducted by Intel Capital as part of its ordinary course portfolio management. Intel Corporation continues to have a business relationship with the company, having licensed several generations of Imagination Technologies’ graphics and video processing cores. These licenses remain in effect and have not been amended in connection with the placing. Intel corporation and the company continue to discuss opportunities to work together,” Intel Capital said in the filing.
The sale was of 25 million shares at 205p per share to raise £51.25 million.
Imagination’s shares immediately fell 8% to reach that price.