GlobalFoundries to Price Its IPO at $42-$47 a Share

GlobalFoundries expects to price its initial public offering at $42-$47 per share when it becomes effective, said the chipmaker’s amended F-1 registration statement Tuesday at the SEC. Of the 55-million-share IPO, GF is selling 33 million shares and its sole shareholder, Abu Dhabi investment group Mubadala is offering the rest. Mubadala will own 89.4% of GF’s voting power after the IPO is complete, said the filing. GF filed for the IPO Oct. 4, saying it plans to use the net proceeds for capital expenditures and other general corporate purposes, including possible acquisitions (see 2110050006).