UAE – Mubasher: GlobalFoundries (GF), a chipmaker owned by Abu Dhabi's Mubadala Investment Company, has secured around $2.6 billion in its initial public offering (IPO) on Nasdaq, Reuters reported. 

GF has sold its shares at $47 per share in the IPO, which gives the company a valuation of about $26 billion. 

Mubadala, which owns a majority stake in GlobalFoundries, sold 22 million shares in the IPO. 

Funds associated with BlackRock, Fidelity Management & Research Company, some affiliates of Koch Strategic Platforms, Columbia Management Investment Advisers, and Qualcomm invested over $1 billion in the IPO. 

It is noteworthy to mention that on 19 October, the company launched its IPO to list 55 million ordinary shares on the Nasdaq Global Select Market, 33 million of which are being offered by GF.