Intel (INTC, Financial) shares saw a pre-market increase of nearly 5%, reaching $24.47. This rise follows news that Intel is expediting the independent IPO process for its FPGA chip company, Altera. Reports indicate that Intel has initiated the separation of Altera into an independent company and has started preliminary preparations for the sale of Altera shares in recent weeks.
Intel has expressed the desire for Altera's valuation to be similar to the acquisition price of $17 billion, which was set in 2015. The exact number of Altera shares Intel plans to sell is currently unknown, but the transaction's value is expected to be in the billions of dollars.
