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Mubadala's GlobalFoundries launches IPO at $42-$47 per share

Mubadala's GlobalFoundries launches IPO at $42-$47 per share
The company seeks to list 55 million ordinary shares on the Nasdaq

UAE - Mubasher: GlobalFoundries (GF), a chipmaker owned by Abu Dhabi's Mubadala Investment Company, has launched its initial public offering (IPO) with an expected price of between $42 and $47 per share.

The company seeks to list 55 million ordinary shares on the Nasdaq Global Select Market, 33 million of which are being offered by GF and 22 million of which are being offered by Mubadala, according to a press release on Tuesday.

Morgan Stanley, BofA Securities, J.P. Morgan, Citigroup, and Credit Suisse are acting as active book-running managers for the proposed offering, while Deutsche Bank Securities, HSBC, and Jefferies are acting as additional book-running managers.

The proposed offering will be made only by means of a prospectus.