GlobalFoundries taps Morgan Stanley for jumbo IPO

Bloomberg5/27/2021 10:23 AM GMT+08  • 2 min read
GlobalFoundries taps Morgan Stanley for jumbo IPO
GlobalFoundries was created by combining AMD's manufacturing facilities with Singapore’s Chartered Semiconductor Manufacturing.
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GlobalFoundries is working with Morgan Stanley on an initial public offering that could value the chipmaker at about US$30 billion, according to a person familiar with the matter.

No final decision has been made and the company’s plans could change, said the person, who asked to not be identified because the matter isn’t public.

GlobalFoundries is backed by Abu Dhabi sovereign fund Mubadala Investment Co. Mubadala had started preparations for a US IPO of the company and is in discussions with potential advisers, Bloomberg News reported in April.

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