GlobalFoundries Goes Public Giving Mubadala Some Liquidity
Posted on 10/29/2021
Shares of GlobalFoundries Inc., which is owned by Mubadala Investment Company, were flat on the Nasdaq on Thursday. The stock began trading under the symbol GFS. The deal provided Mubadala with liquidity and the GlobalFoundries had a market capitalization of about US$ 26 billion. Mubadala will hold 89.4% of the GlobalFoundries’ shares and voting power after the offering.
GlobalFoundries raised US$ 2.6 billion in the third-largest initial public offering (IPO) in the United States so far in 2021.
Funds affiliated with Silver Lake Partners acquired circa US$ 75 million worth of shares as part of a so-called private placement held alongside the IPO.
Advisors
Morgan Stanley, BofA Securities, J.P. Morgan, Citigroup, and Credit Suisse were the lead underwriters for the IPO.
GlobalFoundries was created in 2009 as a spinoff from Advanced Micro Devices.
