Mubadala's GlobalFoundries committed to IPO plan in 2022 – CEO

SourceMubasher
SectorFinancial Markets
CountryUAE

The US-based GlobalFoundries, a chipmaker owned by Abu Dhabi’s Mubadala Investment Company, is committed to its plan for an initial public offering (IPO) in 2022, confirmed during a recent interview with Bloomberg Television. Caulfield has denied the reports claiming that Intel Corp intends to buy GlobalFoundries, referring that the company is preparing for a share sale. “There’s nothing there in that discussion,” Caulfield stated during the interview.

Because the chipmaker is moving toward the IPO, “you can expect a lot of speculation to take place,” the CEO added. Last week, sources announced that Intel has considered buying GlobalFoundries, but no formal takeover discussions have been held between the two sides.

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