Advanced Micro Devices, Inc. (NYSE:AMD) plans to sell and lease back its Singapore facility


Dallas, Texas 08/27/2013 (Financialstrend) – Advanced Micro Devices, Inc. (NYSE:AMD) had recently announced that its Singapore subsidiary had entered into an agreement to provide for the sale and lease back of its facility in this location to the HSBC Institutional Trust Services. It is expected that this sale and lease back transaction would provide net proceeds to the company at an aggregate value of $46 million and this proceeds is expected to be reflected in the balance sheet of the company by the third quarter of the fiscal year 2013.

It is expected that Advanced Micro Devices, Inc. (NYSE:AMD) would present quarterly profits at $16 million for this quarter, the results of which are to be reported on October 17, 2013. This recently announced sale and lease back of the Singapore facility had been observed to be in line with the strategy adopted by the company to ensure reduction in the capital and investments related to the non core business operating parts of the company. One such non core segments of the company include the real estate which is the basic business operation of the Singapore facility, the operations of which were launched in 1984.

Advanced Micro Devices, Inc. (NYSE:AMD) is currently trading at $3.36 and decreased by 6.28%. The stock was observed fluctuate during the day to present intraday prices moving in the range of $3.36 to $3.55 per share, while the stock had recorded 52 week low at $1.81 per share and 52 week high at $4.65 per share. Further, the stock’s trading volume has reported to be at 36.90 million shares while for the past 30 days the stock had reported average trading volume at 31.16 million shares per day.