13th Feb 2015 08:09
LONDON (Alliance News) - Intel Foundation sold its 4.9% interest in Imagination Technologies PLC for GBP32.8 million, according to a statement from JP Morgan Securities PLC on Friday.
The 13.4 million shares were placed at a price of 245 pence per share, JP Morgan said. Shares in the company are untraded at 265 pence Friday morning.
The Intel Foundation was established by US chip maker Intel Corp in 1989 with the aim of funding educational and charitable programs. The shares held by the Intel Foundation were gifted to it by Intel Capital Corp, and as a result of the sale neither the Intel Foundation or Intel Capital have any remaining holding in Imagination Technologies.
JP Morgan Cazenove, the UK investment banking unit of JP Morgan Securities, was sole bookrunner of the placing.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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Related Shares:
Imagination Technologies Group