Intel’s $20B Stock Sale So Oversubscribed a Third of Investors Got Zero Shares
Intel's upsized $20 billion share offering was heavily oversubscribed, with demand several times the shares available. About one-third of investors placing orders received no allocation.
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The massive offering, which was upsized to $20 billion, saw demand far exceed the number of shares on offer, according to people familiar with the deal. Around 33% of investors who submitted orders ended up with no allocation at all.
Concentration was high among the largest buyers: the top 10 investors took 55% of the shares, while the top 25 received roughly 80%. The strong appetite signals investor confidence in Intel’s artificial intelligence strategy and marks one of the chipmaker’s largest capital raises.
Source: First Squawk