Reported 4 months ago
Mubadala Investment Co.'s unit is looking to raise $950 million by selling shares of GlobalFoundries Inc., two years after the chipmaker's IPO. The subsidiary is offering shares at $50.75 to $52.50 each, with plans to repurchase $200 million of the shares at the offering price. This sale, consisting of secondary shares, is the largest shareholder Mubadala's move to reduce its stake in GlobalFoundries from 85%. Morgan Stanley and Bank of America Corp. are underwriting the offering.
Source: YAHOO