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Chipmaker GlobalFoundries Inc on Wednesday bought shares in its preliminary public providing at $47 a chunk, on the greater finish of its focused value vary, to boost about $2.6 billion, folks acquainted with the matter stated.
The IPO provides GlobalFoundries a valuation of about $26 billion, making it one of many largest inventory market floatations of the yr in the USA.
Abu Dhabi’s sovereign wealth fund Mubadala Funding Co, which holds a majority stake in GlobalFoundries, bought 22 million shares within the IPO.
Funds related to BlackRock Inc, Constancy Administration & Analysis Firm LLC, some associates of Koch Strategic Platforms LLC, Columbia Administration Funding Advisers LLC and Qualcomm Inc invested over $1 billion within the IPO.
A spokesperson for GlobalFoundries stated the corporate is ready to finalize the main points and declined to touch upon the IPO value.
(Extra reporting by Niket Nishant in Bengaluru; Enhancing by Chris Reese)
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