Semiconductor large GlobalFoundries information paperwork for U.S. IPO


Oct 4 (Reuters) – Semiconductor large GlobalFoundries, a unit of Abu Dhabi’s state-owned fund Mubadala, made public its paperwork for a inventory market itemizing within the United States on Monday, taking a step in direction of one of the crucial hotly awaited listings this yr.

GlobalFoundries’ web income for the six months ended June 30 was $3.04 billion, up practically 13% from a yr earlier. Net loss in the identical interval narrowed to $301 million from $534 million a yr earlier.

The U.S.-based firm’s itemizing plan comes because the broader business that features automakers and electronics producers has been crimped by a worldwide scarcity of chips, which has fuelled manufacturing delays.

GlobalFoundries has not but set phrases for its itemizing, but it surely may search a valuation as excessive as $25 billion, Reuters reported earlier. learn extra

Reporting by Niket Nishant in Bengaluru; Editing by Uttaresh.V and Shounak Dasgupta