admin
Intel
disclosed that it bought more than a million
Arm Holdings
American depositary receipts in that company’s September initial public offering.
Intel (ticker: INTC)—among other tech companies including
Apple
(AAPL) and
Nvidia
(NVDA)—had been interested in buying ADRs of Arm, a British chip designer, but no investment size was specified. Arm ADRs priced at $51 a share in mid-September.
Chip firm Intel disclosed in a Securities and Exchange Commission form that it owned 1,176,470 Arm ADRs as of the end of September.
Intel didn’t immediately respond to a request for comment on the investment.
Arm ADRs were trading Wednesday at $54, about 6% above the IPO price.
Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.
Write to Ed Lin at [email protected] and follow @BarronsEdLin.
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