Globalfoundries files for $20bn IPO as it rejects Intel option
The number of ordinary shares to be offered, the proportion of the whole holding and the price range for the proposed offering have not yet been determined. GF has applied to list its ordinary shares on the Nasdaq Global Select Market under the ticker symbol GFS.
Globalfoundries is wholly-owned by Mubadala Investment Co., the Abu Dhabi sovereign wealth fund. The plan of record was for an IPO to take place in 2022 but there were reports that the global shortage in semiconductor manufacturing, with the prospect of rising prices, might cause Mubadala to pull the IPO forward to 2021
- Intel in discussions about buying Globalfoundries
- Globalfoundries’ IPO could value firm at $20 billion
Meanwhile there had also been reports that Intel was in talks about buying Globalfoundries to help it gain momentum in foundry services, a key part of the restructuring being undertaken there by CEO Pat Gelsinger.
The SEC filing appears to indicate that Mubadala feels it can achieve better value from an IPO than from a trade sale of the company.
Related links and articles:
Related articles:
- CEO interview: Globalfoundries’ Tom Caulfield on the European project
- GloFo sues IBM over $2.5 billion damages claim
Other articles on eeNews Europe
- $2bn boost for 300mm silicon wafer supply
- Picocom, Radisys team for 5G end-to-end video streaming
- First industrial programmable I/O module with Raspberry Pi micro
- Farewell Cree as it transitions to Wolfspeed
- Intel launches second generation neuromorphic chip on 4nm
- Rigetti completes UK quantum computer
If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :
