GlobalFoundries reveals revenue jump in U.S. IPO filing as chip demand surges – Reuters

GlobalFoundries reveals revenue jump in U.S. IPO filing as chip demand surges – Reuters

Oct 4 (Reuters) - Chipmaker GlobalFoundries revealed a jump in revenue in its filing for a stock market flotation, setting the stage for a blockbuster finish to a record year for initial public offerings in the United States.

GlobalFoundries, which is owned by Abu Dhabi's sovereign wealth fund Mubadala Investment Co, has not set terms for its listing yet, but it could seek a valuation of about $25 billion, Reuters first reported in August. read more

The IPO, one of the most hotly anticipated deals of the year, is expected to round out a record year for flotations, after several other big names such as Robinhood Markets Inc (HOOD.O), Coinbase Global Inc (COIN.O) and Roblox Corp (RBLX.N) capitalized on the capital markets boom earlier in 2021.

Alongside electric-vehicle maker Rivian's stock market debut, GlobalFoundries is expected to headline an unusually crowded year-end IPO schedule, as companies look to make the most of sky-high investor appetite for listings of high-growth tech companies.

GlobalFoundries filed for an initial public offering on Monday of up to $1 billion, a placeholder figure that will likely change when terms of the share sale are set. (https://bit.ly/2YgEJuh)

During the pandemic, the broader industry that includes automakers and electronics producers