Intel is seeking to raise about US$20 billion in a share sale announced on August 10, according to a report, as chief executive Lip-Bu Tan works to improve the chipmaker’s finances.

This is up from the roughly US$15 billion Intel was targeting when it first announced the deal.

The offering may price at about US$95 a share or above, a 6.5% discount to Intel’s August 7 closing price.

Investor demand topped US$100 billion, and the sale could grow to well above US$20 billion if underwriters exercise an over-allotment option.

Intel declined to comment. The company previously said JP Morgan Chase & Co., Goldman Sachs Group Inc, Morgan Stanley, and Citigroup Inc are working on the offering.

🔗 Source: Bloomberg

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