GlobalFoundries (GFS) IPO Opens Flat

GlobalFoundries (NASDAQ: GFS) opened for trading at $47 after pricing 30,250,000 of which are being offered by GF and 24,750,000 of which are being offered by GF's existing shareholder, Mubadala Investment Company PJSC, at an initial public offering price of $47.00 per share.

Morgan Stanley, BofA Securities, J.P. Morgan, Citigroup and Credit Suisse are acting as active book-running managers for the offering. Deutsche Bank Securities, HSBC and Jefferies are acting as additional book-running managers for the 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 offering.

GlobalFoundries Inc. (GF) is one of the world's leading semiconductor manufacturers. GF delivers feature-rich solutions that enable its customers to develop innovative products for pervasive chips for high-growth markets. GF provides a broad range of feature-rich process technology solutions with a unique mix of design, development and fabrication services. With an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its customers across the globe.

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