GlobalFoundries, Mubadala Raise $2.6 Billion in U.S. IPO - Bloomberg

GlobalFoundries, Mubadala Raise $2.6 Billion in U.S. IPO - Bloomberg

GlobalFoundries Inc. and major shareholder Mubadala Investment Co. raised almost $2.6 billion in an initial public offering, pricing the chipmaker’s shares at the top of a marketed range.

The company and Mubadala sold 55 million shares Wednesday for $47 each after marketing them for $42 to $47, according to a statement confirming an earlier report by Bloomberg News.

At $47 a share, GlobalFoundries has a market value of more than $25 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.

The listing is the third biggest on a U.S. exchange this year, topped only by South Korean ecommerce firm Coupang Inc.’s $4.55 billion IPO and Chinese ride-hailing company DiDi Global Inc.’s $4.44 billion raise, according to data compiled by Bloomberg. That doesn’t include blank-check and similar companies.