Intel Launches $15 Billion Share Sale as Turnaround Rally Lifts Stock

3-line summary

• Intel said it is planning to raise $15 billion through a share sale to fund the build-out of its chip contract manufacturing business, according to a Reuters report via Yahoo Finance.
• Shares fell more than 3% in premarket trading on dilution concerns after more than doubling this year; underwriters JPMorgan Securities, Goldman Sachs, Morgan Stanley and Citigroup have a 30-day option to buy up to $2.25 billion in additional shares.

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