GlobalFoundries has been planning to conduct an IPO. The original plan was to go public in 2022, but previously there was news that it might be advanced to the end of 2021. In the past year or so, due to the outbreak of the coronavirus epidemic, which has led to changes in work, entertainment, and education, the global demand for semiconductors has reached unprecedented heights, making the overall prospects of the semiconductor manufacturing industry promising, and the valuation of GlobalFoundries is also rising.
In addition, GlobalFoundries has also increased its investment in production. It has invested in wafer fabs in multiple regions to upgrade production lines or expand production capacity and relocate its headquarters to New York, which is where Fab 8 is currently the most advanced fab of GlobalFoundries.
According to Reuters, GlobalFoundries has applied to US government regulators for listing on the New York Stock Exchange, with a valuation of approximately $25 billion. This time GlobalFoundries selected Morgan Stanley, Bank of America, JPMorgan Chase Bank, Citigroup, and Credit Suisse Group as partners, and prepared relevant documents to assist in the listing. It is not yet possible to determine when GlobalFoundries will be listed for trading. It depends on the review time of the US Securities and Exchange Commission (SEC). It should be at the end of this year or early next year provided that there are no problems with the application documents. It is expected that in October, GlobalFoundries will disclose its IPO.
Last month, there was news that Intel was seeking to acquire GlobalFoundries, and the transaction amount maybe $30 billion. GlobalFoundries seems to have rejected Intel’s offer because of concerns that after the merger, the original customers of the two parties may have conflicts of interest or form a competitive relationship. Even if they accept Intel’s offer, they will face strict antitrust review, which may cause GlobalFoundries to miss a great opportunity for development.