Mubadala-backed GlobalFoundries targets valuation of nearly $25 bln in U.S. IPO

  • 10/19/2021
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Oct 19 (Reuters) - Chipmaker GlobalFoundries, owned by Abu Dhabi’s sovereign wealth fund Mubadala Investment Co, is aiming for a valuation of around $25 billion in its initial public offering in the United States. In a filing to stock exchanges on Tuesday, GlobalFoundries set a price range of between $42 and $47 a share for its stock market flotation. Reuters was first to report in August that GlobalFoundries had filed for an IPO in New York that could value the company at around $25 billion. Reporting by Anirban Sen in Bengaluru; Editing by Shinjini Ganguli

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