GlobalFoundries falls; Mubadala eyes $1.91 billion share sale, Bloomberg News reports
26/05/2026 23:52
BUZZ-GlobalFoundries falls; Mubadala eyes $1.91 billion share sale, Bloomberg News reports ** Shares of chip company GlobalFoundries GFS.O fall 6.6% to $84.01 after the bell
** Majority owner Mubadala Investment Company, Abu Dhabi's sovereign wealth fund, is seeking to raise $1.91 billion from an unregistered block sale of GFS shares, according to Bloomberg News
** The 22-million-share block is being marketed for $86.30 to $86.80 each and Morgan Stanley is working on the offering, Bloomberg says
** The share sale includes a 60-day agreement restricting further sales by Mubadala, according to the report; details of the offering could still change
** GFS has surged 157.6% YTD
(Reporting by Juby Babu in Mexico City)