Mubadala's GlobalFoundries committed to IPO plan in 2022 - CEO

UAE - Mubasher: The US-based GlobalFoundries, a chipmaker owned by Abu Dhabi's Mubadala Investment Company, is committed to its plan for an initial public offering (IPO) in 2022, the company's CEO, Tom Caulfield, confirmed during a recent interview with Bloomberg Television.

Caulfield has denied the reports claiming that Intel Corp intends to buy GlobalFoundries, referring that the company is preparing for a share sale.

"There’s nothing there in that discussion,” Caulfield stated during the interview.

Because the chipmaker is moving toward the IPO, "you can expect a lot of speculation to take place," the CEO added.

Last week, sources announced that Intel has considered buying GlobalFoundries, but no formal takeover discussions have been held between the two sides.

Mubasher Contribution Time: 21-Jul-2021 10:30 (GMT)
Mubasher Last Update Time: 21-Jul-2021 10:30 (GMT)