Mubadala Investment Company, one of Abu Dhabi’s leading SWFs, successfully raised $1.8B through the sale of 22M shares in the chip manufacturer, GlobalFoundries.
The transaction, executed as a block trade on 26 May, was priced at $89.96 per share citing a filing with the U.S. Securities and Exchange Commission. Morgan Stanley facilitated the trade according to the same filing.
Despite the divestment, Mubadala retains a significant 73% ownership stake in GlobalFoundries, indicating its ongoing commitment to the company’s strategic direction.
Following the block trade, shares of Nasdaq-listed GlobalFoundries rebounded, closing at $89.96 after experiencing a decline of nearly 7% earlier in the session.
GlobalFoundries recently reported a YoY revenue increase of 3%, amounting to $1.6B, for Q1 FY26.
Yet net income saw a substantial decline, falling 60% annually to $104M. This downward trend in profits underscores the challenges facing the semiconductor industry.
In May 2024, Mubadala had previously divested $950M worth of GlobalFoundries shares, which came two years after the company’s initial public offering on Nasdaq.
The fund, valued at approximately $385B, spans six continents and invests in various sectors and asset classes.
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