Chip Company GlobalFoundries Goes to New York Stock Exchange

The American chip company GlobalFoundries goes to the stock exchange in New York. The value of the company should be around 30 billion dollars.

 

GlobalFoundries hopes to capitalize on the strong demand for computer chips and the shortages in the global semiconductor market with its IPO on the Nasdaq technology exchange.

GlobalFoundries is possessed by the Abu Dhabi sovereign wealth fund Mubadala Investment. An application has now been deferring to for an IPO. However, there have been gossips for some time that a listing on Wall Street was in progress.

GlobalFoundries, California-based Santa Clara, makes chips designed by other companies. The company publicized this summer that it was expanding its production capacity to meet strong demand for semiconductors.

In July, sources told business newspaper The Wall Street Journal that industry peer Intel was interested in a $30 billion acquisition of GlobalFoundries. Intel is said to have held talks with Mubadala about this. It would have been the largest acquisition for Intel ever.

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