GlobalFoundries IPO raises $2.5bn for $26bn valuation

GlobalFoundries chip - Source:GlobalFoundries Inc ... Join the 270,000+ traders worldwide that chose to trade with Capital.com. GlobalFoundriesIPOraises$2.5bnfor$26bnvaluation 14:49,28October2021KevinDonovan TagsIPO GlobalFoundrieschip-Source:GlobalFoundriesInc FortradersNewsStocksGlobalFoundriesIPOraises$2.5bnfor$26bnvaluation RatethisarticleShareArticle GlobalFoundriesraised$2.6bn(£1.9bn)fromitsinitialoffering(IPO)of55millionsharestothepublic,pricingindividualsharesat$47,thehighendofitspriceguidanceof$42–$47pershare,thecompanysaid.TheMalta,NewYork-basedmakerofsemiconductorchipsisscheduledtobegintradingThursdayontheNasdaqexchangeundertheticker“GFS”.GlobalFoundries,whichhadbeensolelyownedbyAbuDhabisovereignwealthfundMubadalaInvestment,isvaluedatroughly$26bn.Ofthe55millionsharessold,Mubadalasold24.75millionsharesintotheIPOandwillretainan89.4%ownershipstakeinGlobalFoundries,accordingtotheFormF-1registrationstatement filedwiththeUSSecurities&ExchangeCommission.BofA,CitigroupGlobal,CreditSuisse,JPMorganandMorganStanleyactedasjointleadmanagers,withDeutscheBank,HSBCandJefferiesservingasco-managers.Theunderwritinggroupwasgranteda30-dayoptiontopurchaseanadditional8.25millionshares.Settlementisscheduledfor1November.AMDspinoffGlobalFoundries,spunofffromchipmakerAdvancedMicroDevices(AMD)in2009andacquiredbyMubadala,reportedalossof$301m,or$0.60pershare,on$3.04bnofrevenueinthefirstsixmonthsof2021.Forthefullyear2020,GlobalFoundriesreportedalossof$1.35bn on$4.85bninrevenue.Inthesemiconductormarket,GlobalFoundriesiscalledafabricatorofthesemiconductorchipwafersthataresoldtomorewell-knownchipmanufacturers,whichareknownasfabless.GlobalFoundries’top10customersareAMD,Broadcom,Qualcomm,MediaTek,NXP,Qorvo,CirrusLogic,Skyworks,MurataandSamsung.“[D]emandhasoutstrippedsupplyacrossmostofthesemiconductorindustry.Meanwhile,otherindustries,suchastheautomotivesector,whichwereinitiallyhard-hitbythepandemic,begantohaltnewpurchasesanddepletedexistinginventoriesofsemiconductorchips,”GlobalFoundriesreportedinitsregistrationstatement. Createatradingaccountinlessthan3minCreateaccount Readmore:GlobalFoundriessetstoweering$47pricetargetforIPOThedifferencebetweenstocksandCFDsThemaindifferencebetweenCFDtradingandstocktradingisthatyoudon’towntheunderlyingstockwhenyoutradeonanindividualstockCFD.WithCFDs,youneveractuallybuyorselltheunderlyingassetthatyou’vechosentotrade.Youcanstillbenefitifthemarketmovesinyourfavour,ormakealossifitmovesagainstyou.However,withtraditionalstocktradingyouenteracontracttoexchangethelegalownershipoftheindividualsharesformoney,andyouownthisequity.CFDsareleveragedproducts,whichmeansthatyouonlyneedtodepositapercentageofthefullvalueoftheCFDtradeinordertoopenaposition.Butwithtraditionalstocktrading,youbuythesharesforthefullamount.IntheUK,thereisnostampdutyonCFDtrading,butthereiswhenyoubuystocks.CFDsattractovernightcoststoholdthetrades,(unlessyouuse1-1leverage)whichmakesthemmoresuitedtoshort-termtradingopportunities.Stocksaremorenormallyboughtandheldforlonger.Youmightalsopayastockbrokercommissionorfeeswhenbuyingandsellingstocks. Ratethisarticle Ratethisarticle:72%28% Readytogetstarted?Capital.comDownloadCapitalComisanexecution-onlyserviceprovider.Thematerialprovidedonthiswebsiteisforinformationpurposesonlyandshouldnotbeunderstoodasaninvestmentadvice.AnyopinionthatmaybeprovidedonthispagedoesnotconstitutearecommendationbyCapitalComoritsagents.Wedonotmakeanyrepresentationsorwarrantyontheaccuracyorcompletenessoftheinformationthatisprovidedonthispage.Ifyourelyontheinformationonthispagethenyoudosoentirelyonyourownrisk. ShareArticle Newtotrading?LearntotradewithCapital.comTryFreeDemo Gotatradingidea?TradeNoworTryFreeDemoMosttradedOil-CrudeUSCrudeOilSpot--2.270%TradeBTC/USDBitcointoUSDollar-+0.020%TradeXRP/USDRippletoUSDollar-+0.380%TradeUS100USTech100--0.320%TradeETH/USDEthereumtoUSDollar--1.420%TradeLatestvideoShibacoinpriceprediction:WillSHIBreachnewhighs?byNicoleWillingDogecoinpriceprediction:isitsetforanewrally?byNicoleWillingEconomiccalendar Stilllookingforabrokeryoucantrust?Jointhe270,000+tradersworldwidethatchosetotradewithCapital.com1 Createyouraccount2Makeyourfirstdeposit3You’reallset.Starttrading Stilllookingforabrokeryoucantrust?Jointhe270,000+tradersworldwidethatchosetotradewithCapital.com 1.Createyouraccount 2.Makeyourfirstdeposit3.You’reallset.Starttrading Reviews3,896•ExellentTrustedpartnerSelectLanguageEnglish العَرَبِيَّة BahasaIndonesia BahasaMelayu Български Čeština Dansk Deutsch Eesti ελληνικά Español Français Hrvatski Italiano Latviešu Lietuvių Magyar Nederlands Polski Português Română Русский Slovenčina Slovenščina Suomi Svenska TiếngViệt ไทย 中文 Capital.comGlobalFoundriesIPOraises$2.5bnfor$26bnvaluation