Intel Corporation (NASDAQ:INTC) shares are trading lower by 2.16% to $25.85 on reports suggesting the company is seeking a reduced valuation in the IPO of its Mobileye unit.
What Happened?
Intel is now targeting a valuation under $20 billion and looking to sell fewer shares than it had planned originally, the Wall Street Journal reported, citing people familiar with the matter.
The chipmaker and its advisers are of the view that selling fewer shares at a reduced price may generate increased interest in the IPO, added the report…Read More
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According to data from Benzinga Pro, Intel has a 52-week high of $56.28 and a 52-week low of $24.59.
