Mubadala-owned company floats shares on Nasdaq

GlobalFoundries, a leading global semiconductor manufacturer wholly owned by Mubadala Investment Company, has announced that the company's shares have been offered for public subscription on the Nasdaq Stock Exchange (NASDAQ) in the United States, where trading of the stock under the symbol "GFS" has already begun.

The company announced that 55 million ordinary shares, equivalent to 10% of its shares, were offered for public subscription at an initial offer price of 173.6 dirhams ($ 47) per share, bringing the market value of the company when offered to 95.5 billion dirhams ($ 26 billion).

The volume of demand for the subscription amounted to nearly four and a half times the number of shares offered for subscription, and the list of the first subscribers to the shares included major international investment companies, such as “Fidelity”, “BlackRock”, “Kosh”, “Columbia”, “Qualcomm” and “Silver”. Sixty".

Khaldoon Khalifa Al Mubarak, Managing Director and CEO of Mubadala Investment Company, said: "(Mubadala) established (Global Foundries) in 2009 to achieve the vision of the Abu Dhabi government and the leadership of the UAE regarding the important role that semiconductors will play in the future industry."

He added: "Today, after 12 years of establishing the company, semiconductors have become a basic pillar in our lives. They are present in all the devices we use to run our lives and do our work, and their applications have become one of the enablers of human progress that the world needs in the future."

 GlobalFoundries is one of the world's leading semiconductor manufacturers, with 15,000 employees working in several countries, most notably the United States, Germany and Singapore.

The company manufactures complex semiconductors that are available to billions of electronic devices around the world, as semiconductors are the basic and most important part of many of the technologies that we all rely on in our daily lives, including the chips used in mobile phones, displays, smart devices, as well as cars .

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