Chipmaker GlobalFoundries targets valuation of about US$25 billion in US IPO

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:Chipmaker GlobalFoundries, owned by Abu Dhabi's sovereign wealth fund Mubadala Investment Co, is aiming for a valuation of about US$25 billion in its initial public offering in the United States.The IPO, one of the most hotly anticipated listings, is expected to cap a record year for flotations, after severa

:Chipmaker GlobalFoundries, owned by Abu Dhabi's sovereign wealth fund Mubadala Investment Co, is aiming for a valuation of about US$25 billion in its initial public offering in the United States.

IPOs in the United States have already touched an all-time record of over US$250 billion this year, according to data from Dealogic. Including the"greenshoe option", which allows companies to sell additional shares during an IPO, GlobalFoundries could be valued at about US$26 billion. GlobalFoundries' revenue had been in decline since 2018, but over the past 12 months the company's growth rebounded as worldwide demand for chips skyrocketed.

 

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