Chipmaker GlobalFoundries Inc sold shares of its initial public offering on Wednesday at $47 a piece, at the high end of its target price range, to raise about $2.6 billion, people familiar with the matter said.
The IPO gives GlobalFoundries a valuation of approximately $26 billion, making it one of the largest stock market floatations of the year in the United States.
Abu Dhabi sovereign wealth fund Mubadala Investment Company, which holds a majority stake in GlobalFoundries, sold 22 million shares in an IPO.
BlackRock Inc., Fidelity Management & Research Company LLC, some affiliates of Koch Strategic Platform LLC, Columbia Management Investment Advisors LLC and funds associated with Qualcomm Inc., all invested more than $1 billion in the IPO.
A spokesperson for GlobalFoundries said the company is waiting to finalize details and declined to comment on the pricing of the IPO.
(Additional reporting by Niket Nishant in Bengaluru; Editing by Chris Reese)
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