GF has applied to list its ordinary shares on the Nasdaq Global Select Market under the ticker symbol GFS. Mubadala Investment Co., the sovereign wealth fund of Abu Dhabi and owner of Globalfoundries (New York), will retain 89.4 percent of the company after this sale of shares.
At $42 per share the sale would raise about $2.66 billion and value the company at $22.4 billion. At $47 per share the sale would raise about $2.97 billion and value the company at $25 billion. The share offer includes 8.25 million ordinary shares that the underwriters have an option to purchase.
Globalfoundries would benefit from the sale of 33 million of the shares – and Mubadala from 22 million. So Globalfoundries could raise between about $1.4 billion and $1.55 billion from the share issue.
Five investors, known as cornerstone investors, have indicated an interest in buying shares with a purchase price value of $1.05 billion. These investors are: BlackRock Inc., Columbia Management Investment Advisers LLC, Fidelity Management & Research LLC, Koch Industries Inc. and Qualcomm Inc.
- Intel rejected as loss-making Globalfoundries files for IPO
- GF breaks ground on $4 billion Singapore wafer fab
- GlobalFoundries and IBM in $2.5bn legal fight
Other articles on eeNews Europe
- Raspberry Pi HAT opens up world of Lego
- ARM launches virtual modelling toolchain to boost AIoT development
- 14,336 ARM cores in chiplet-based waferscale AI engine
- Sivers Semiconductors in mmWave chip buy
- World’s fastest deep learning inference software for Arm Cortex-M
- Nordic ports TinyML to cellular IoT chip