Globalfoundries exploring an IPO

Posted on Friday, Nov 16 2012 @ 11:57 CET by Thomas De Maesschalck
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EE Times received exclusive news that Globalfoundries is investigating a future initial public offering (IPO). The foundry's primary goal is to become profitabily, this is expected to be achieved in 2015, and an IPO is eyed to raise money to expand production as well as to provide the means for ATIC to reduce its ownership and get a return on its investment. The site also notes that it remains unclear whether the Abu Dhabi government, which owns Globalfoundries through ATIC, remains committed to the construction of a wafer fab in the gulf state, and whether Abu Dhabi plans to sell its entire stake in Globalfoundries after 2015.
An initial public offering (IPO) of shares in the company would then be an option Mike Noonen, executive vice president of worldwide marketing and sales, told EE Times on the sidelines of the Electronica exhibition, here. However, moving the company to profitability was the first order of business, he said.

An IPO could be used to raise money for Globalfoundries (Milpitas, Calif.) as well providing the means for ATIC to reduce its ownership and get a return on its investment. Much would depend on the detailed construction of an IPO.

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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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