7 Things to Know About the Upcoming $24 Billion GLOBALFOUNDRIES (GFS) IPO
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GLOBALFOUNDRIES Inc. (NASDAQ: GFS) is set to launch its U.S. IPO next week. GLOBALFOUNDRIES is a one of the world’s leading semiconductor foundries, manufacturing complex, feature-rich integrated circuits (ICs) that enable billions of electronic devices that are pervasive throughout nearly every sector of the global economy. Below are 7 important facts to focus on into the IPO:
1. GLOBALFOUNDRIES IPO Timing: GLOBALFOUNDRIES Inc. is expected to have its IPO on the NASDAQ on Oct 27, 2021. The stock ticker is 'GFS'. Normally IPOs on the NASDAQ began trading between 10AM-2PM ET.
2. GLOBALFOUNDRIES IPO Price: The company anticipates the initial public offering price to be between $42.00 and $47.00.
3. Shares Offered: The company is offering 55,000,000 ordinary shares, out of which 22,000,000 of the ordinary shares to be sold by Mubadala Investment Company PJSC in the offering. There will be 534,685,393 ordinary shares outstanding following the offering.
4. GLOBALFOUNDRIES IPO Valuation: A pricing at the midpoint of the range would value the company at around $23.8 billion.
5. IPO Underwriters: Morgan Stanley, BofA Securities, J.P. Morgan, Citigroup and Credit Suisse are acting as the lead underwriters for the offering.
6. Important Financials: The company expects total net revenues to increase by $604 million-$609 million year-over-year to $1,695-$1,700 million for the three months ended September 30, 2021, driven by continued strong wafer demand.
7. Total Addressable Market (TAM): The total addressable market (TAM) for the overall semiconductor device market was estimated at $466 billion in 2020, while the TAM for the foundry market, excluding memory, was $74 billion. Of this total, the company estimates that its SAM represented $54 billion, which included $22 billion for Smart Mobile Devices, $18 billion for Home and Industrial IoT, $9 billion for Communications Infrastructure & Datacenter, $4 billion for Automotive and $1 billion for Personal Computing opportunities.
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