Intel Corp (INTC.O) is offering 35 million shares of Class A common stock, or or Intel to Sell $1.5bn Stake in Mobileye Global Inc (MBLY.O), according to a regulatory filing on Monday.buy sex toys online custom nba jerseys nike air max 95 black best wigs for white women cheap nfl jersey custom jerseys basketball adult sex toys mens nike air max 97 nike air jordan shoes air jordan sale nike air maxes 95 adidas yeezy boost 700 glueless wigs for beginners nfl team shop custom soccer jerseys
After the offering, Intel’s voting share in the self-driving technology company will come down to about 98.7% from the 99.3% it currently holds.
Shares of the Jerusalem, Israel-based Mobileye fell over 4% to $40.55 in extended trading.
The share sale comes at a time when the company is facing intense competition in the assisted driving market from chipmakers Nvidia Corp (NVDA.O) and Qualcomm Inc (QCOM.O), which are trying to make inroads into the space.
Mobileye, which counts BMW (BMWG.DE), Nissan (7201.T) and Volkswagen (VOWG_p.DE), among others as its customers, listed on the Nasdaq last year after raising $861 million in an initial public offering.
Goldman Sachs & Co and Morgan Stanley are acting as joint book-running managers for the share sale, the company said.