Microchip Technology shares fall after $1.35 billion convertible stock offering plan announced

Quick Summary:

NEW YORK : Shares of Microchip Technology fell more than 3 per cent on Wednesday after the chipmaker announced plans to raise capital by offering $1.35 billion of convertible stock.

The shares, which had closed up 0.7 per cent at $54.57, dropped 3.2 per cent to $52.79 in after-hours trading.

FILE PHOTO: Morning commuters are seen on Wall St.outside the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2020.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Technology Announced Plans Shares Fall Chipmaker Cent Offering York Microchip Stock

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-20 @ 06:08:54 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 266 words

Reading Time: 2 minutes read

Sentences: 13 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 27180936

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Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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