Company started trading on NASDAQ on Thursday RIYADH: Semiconductor manufacturer GlobalFoundries Inc. and major shareholder Mubadala Investment Co., Abu Dhabi’s sovereign fund, raised almost $2.6 billion in an IPO, the third biggest on a US exchange this year. The company and Mubadala sold 55 million shares on Wednesday for $47 each after marketing them for $42 to $47, a statement showed. Mubadala controls more than 89 percent of the company’s shares after the IPO, which was led by Morgan Stanley, Bank of America Corp., JPMorgan Chase & Co., Citigroup Inc. and Credit Suisse Group AG. The company’s shares started trading Thursday on the Nasdaq under the symbol GFS. At $47 a share, GlobalFoundries has a market value of more than $25 billion based on the outstanding shares listed in its filings with the US Securities and Exchange Commission. Global Foundries is a silicon wafer foundry, or fabrication plant, makes the products for chip companies that don"t have their own. Funds managed by BlackRock Inc., Columbia Management Investment Advisers, Fidelity Management, an affiliate of Koch Industries Inc. and Qualcomm Inc. indicated interest in buying a combined $1.05 billion of the shares in the offering as cornerstone investors, the filings show. Silver Lake separately agreed to purchase $75 million of stock in a concurrent private placement at the IPO price.