US Stock Market Move | Western Digital Corporation (WDC.US) plans to sell its stake in SanDisk (SNDK.US) to raise 3 billion US dollars. The latter fell by 1.6%.

On Wednesday, SanDisk (SNDK.US) fell by 1.6% in early trading to 580.8 US dollars; Western Digital Corporation (WDC.US) slightly rose by 0.76% to 286.5 US dollars. In terms of news, Western Digital Corporation is planning to sell all of its shares in its flash memory subsidiary SanDisk, raising approximately 3.09 billion US dollars. The price range for this share offering is between 535 US dollars and 555 US dollars per share, a discount of up to 9.4% compared to SanDisk's closing price of 590.59 US dollars on Tuesday. Although the specific number of shares to be sold has not been disclosed, the market response has been strong, with oversubscription already achieved during the non-public roadshow stage.