Home / Business and Economy / Abu Dhabi Fund Eyes $1.91B Chip Sale
Abu Dhabi Fund Eyes $1.91B Chip Sale
27 May
Summary
- Mubadala seeks $1.91 billion from stock sale.
- The block sale involves 22 million GlobalFoundries shares.
- Shares are priced between $86.30 and $86.80 each.
Mubadala Investment Co., Abu Dhabi's sovereign wealth fund, is reportedly looking to divest a considerable portion of its holdings in GlobalFoundries Inc. The fund is seeking to raise $1.91 billion through the sale of a 22 million share block.
The shares are currently being offered at a price point between $86.30 and $86.80 per share. This move by Mubadala highlights a strategic adjustment in its investment portfolio within the dynamic semiconductor industry.
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