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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

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.

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