Stock-market

Chipmaker GlobalFoundries Falls in Inventory Market Debut

Chipmaker GlobalFoundries GFS made its inventory market debut Thursday on the Nasdaq International Market at $44.50 a share, 5% decrease than its preliminary public providing value of $47.

Shares of the Malta, N.Y., firm ultimately verify fell 4.2% to $45.04. GlobalFoundries trades below the ticker image GFS.

Its IPO of 55 million shares was priced at $47 on Wednesday, the highest finish of its forecast vary. The deal raised practically $2.6 billion.

The underwriters have an choice on 8.25 million extra shares.

GlobalFoundries, which counts Superior Micro Gadgets  (AMD) – Get Superior Micro Gadgets, Inc. Report and Broadcom  (AVGO) – Get Broadcom Inc. Report as clients, has gone public within the midst of the worldwide chip scarcity.

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