Mubadala Floats Idea of Listing GlobalFoundries

Posted on 04/09/2021

As the world faces a global chip shortage, Abu Dhabi-based Mubadala Investment Company is looking to provide some more liquidity in its portfolio. Mubadala began preparations for a U.S. initial public offering of chipmaker GlobalFoundries Inc. GlobalFoundries is one of the largest contract chip manufacturers. The COVID-19 pandemic fueled a global semiconductor shortage.

GlobalFoundries is running to install equipment to increase capacity in Saratoga County. There is surging demand for computer chips for vehicles, laptops, and smartphones. In 2020, GlobalFoundries was using about 60% of manufacturing space in Malta versus using between 70% and 75% of its factory in recent months.

GlobalFoundries had a targeted IPO date in 2022, but that timetable could be sped up as demand for chips surges. The business could be valued at around US$ 20 billion.

GlobalFoundries was created when Mubadala acquired Advanced Micro Devices Inc.’s manufacturing facilities in 2009 and later merged them with Singapore’s Chartered Semiconductor Manufacturing Ltd.

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