Mubadala-owned chipmaker GlobalFoundries valued at $26b in lacklustre debut

Mubadala-owned chipmaker GlobalFoundries valued at $26b in lacklustre debut

A screen displays the company logo for semiconductor and chipmaker GlobalFoundries Inc. during the company's IPO at the Nasdaq MarketSite in Times Square in New York City, U.S., October 28, 2021. REUTERS/Brendan McDermid

Shares of GlobalFoundries Inc, which is owned by Abu Dhabi’s sovereign wealth fund Mubadala Investment Co, opened flat on Nasdaq on Thursday, giving the chipmaker a market capitalization of about $26 billion.

GlobalFoundries priced its IPO, which is the third largest in the United States so far this year, at $47 a share. Only South Korean e-commerce giant Coupang and ride hailing company Didi Global have had larger stock market floats this year.

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