The Strategist

GlobalFoundries sends IPO documents to US watchdog


10/05/2021 - 09:01



GlobalFoundries, the third-largest microchip maker by volume, has filed documents ahead of its initial public offering (IPO) with the US Securities and Exchange Commission (SEC).



The manufacturer is wholly owned by Mubadala, effectively Abu Dhabi's sovereign wealth fund. GlobalFoundries notes in the prospectus that Mubadala will retain significant control of the company after the IPO on the Nasdaq exchange.

GlobalFoundries disclosed figures for the first half of 2021: the company's revenue rose 13% from a year earlier to more than $3 billion. The company notes that in light of chip shortages, "the semiconductor industry will require significant investment growth to keep up with supply."

GlobalFoundries' main competitors are Taiwan's TSMC and South Korea's Samsung, with GlobalFoundries' head office and manufacturing sites located in the US. Earlier, the head of TSMC, Mark Liu said that localization of supply chains in the semiconductor industry not only does not improve their stability, but can worsen it. Earlier, US Department of Commerce Gina Raimondo said there is a need to "encourage companies to produce chips in America".

source: bloomberg.com




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