GlobalFoundries (GF), a provider of feature-rich semiconductor manufacturing, announces the commencement of its initial public offering of 55,000,000 ordinary shares, 33,000,000 of which are being offered by GF and 22,000,000 of which are being offered by GF’s existing shareholder, Mubadala Investment Company PJSC, pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (SEC).
The IPO price is currently expected to be between $42.00 and $47.00 per share. In connection with the offering, Mubadala expects to grant the underwriters a 30-day option to purchase up to an additional 8,250,000 ordinary shares at the public offering price, less underwriting discounts and commissions. GF has applied to list its ordinary shares on the Nasdaq Global Select Market under the ticker symbol GFS.
Morgan Stanley, BofA Securities, J.P. Morgan, Citigroup and Credit Suisse are acting as active book-running managers for the proposed offering. Deutsche Bank Securities, HSBC and Jefferies are acting as additional book-running managers for the proposed offering. Baird, Cowen, Needham & Company, Raymond James, Wedbush Securities, Drexel Hamilton, Siebert Williams Shank and IMI – Intesa Sanpaolo are acting as co-managers for the proposed offering.
The proposed offering will be made only by means of a prospectus.
