Investing.com -- Mubadala Investment Co., Abu Dhabi's sovereign wealth fund, raised $1.91 billion from a block sale of GlobalFoundries Inc. shares on Tuesday.

The shares were offered at $86.30 to $86.80 each, according to Bloomberg News, citing people familiar with the matter. Morgan Stanley worked on the offering.

The deal was marketed at up to a 4.1% discount to Tuesday's closing price of $89.96. The share sale includes a 60-day agreement restricting further sales by Mubadala.

Mubadala sold 22 million shares in the block trade, reducing its stake to 400 million shares or 73% of GlobalFoundries, the fund said in a statement late Tuesday. The sovereign investor remains highly committed to GlobalFoundries' strategic direction, said Camilla Languille, co-chief executive officer of private equity at Mubadala.

Shares of GlobalFoundries fell 7.6% to $83.15 each pre-market Wednesday.