GLOBALFOUNDRIES broke in the first day of IPO: flat open and low, once fell more than 5%
In the early morning of October 29, GlobalFoundries Semiconductor (GlobalFoundries) US IPO opened flat on the first day at US$47.00, and then broke. The lowest hit US$44.50, a drop of nearly 5.32%. According to the document, GF and its main shareholder Mubadala Investment Company (Mubadala) issued 55 million shares at a price of $47 per share to raise nearly $2.6 billion under the code GFS.
According to the calculation of the outstanding shares listed in the documents submitted by GF to the US Securities and Exchange Commission (SEC), the market value of GF will exceed $26 billion after listing. This will be the third-largest listing on US stocks this year.
Morgan Stanley, Bank of America, JPMorgan Chase, Citigroup and Credit Suisse are the main underwriters of this IPO.