UAE - Mubasher: GlobalFoundries, a specialty foundry that is wholly owned by Mubadala Investment Company, is studying an initial public offering (IPO) with Morgan Stanley, sources told Bloomberg.
The IPO could value the semiconductor manufacturer at about $30 billion, the sources added.
The sources further remarked that GlobalFoundries has not reached the final decision yet and could change its plans.
In April, Mubadala was reported that it had started preparations for a U.S. IPO of the company and is in talks with potential investors.
In early May, sources told Bloomberg that Abu Dhabi-headquartered Mubadala has hired Bank of America and Morgan Stanley as advisors for a potential IPO of Al Yah Satellite Communications Company (Yahsat).
