Reported Earlier, GlobalFoundries Prices $950M Secondary Offering Of Ordinary Shares At $50.75/Share, Including Concurrent $200M Share Repurchase
Portfolio Pulse from Benzinga Newsdesk
GlobalFoundries has priced a $950 million secondary offering of ordinary shares at $50.75 per share, which includes a concurrent $200 million share repurchase. The selling shareholder is a subsidiary of Mubadala Investment Company PJSC, GlobalFoundries' largest shareholder.
May 23, 2024 | 6:14 am
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GlobalFoundries has announced a $950 million secondary offering of shares at $50.75 each, including a $200 million share repurchase. The selling shareholder is a subsidiary of Mubadala Investment Company PJSC.
The secondary offering and share repurchase are significant financial actions. The offering could dilute existing shares, but the repurchase may offset some of this impact. The net effect on the stock price is uncertain in the short term.
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