GlobalFoundries files for an IPO, capitalizing on chip boom

Bloomberg
Bloomberg10/5/2021 01:45 AM GMT+08  • 2 min read
GlobalFoundries files for an IPO, capitalizing on chip boom
GlobalFoundries in 2020 had a net loss of US$1.35 billion and revenue of US$4.85 billion.
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GlobalFoundries Inc filed for an initial public offering, looking to benefit from investors pouring money into semiconductor makers during a pandemic-induced chip shortage.

In a filing Monday, the company listed the size of its offering as US$1 billion -- a placeholder that will change when terms of the share sale are set.

GlobalFoundries, owned by an investment arm of the Abu Dhabi government, also disclosed financial details of its business, including a 2020 net loss of US$1.35 billion and revenue of US$4.85 billion.

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