Mubadala to sell 34.9 million shares in Advanced Micro Devices

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Mubadala Investment Company announced on Tuesday the sale of its stake of 34.9 million common equity shares, along with a plan to convert 75 million warrants, in US-based semi-conductor company Advanced Micro Devices (AMD).

Mubadala will continue to be a major AMD shareholder after the transaction, with ownership of 6.9 percent, once the 75 million warrants are converted to common equity share, it added.

Converting the warrants will provide AMD with $448.5 million, Mubadala said in a statement issued in Abu Dhabi, capital of the United Arab Emirates.

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