BUZZ-GlobalFoundries falls; Mubadala eyes $1.91 billion share sale, Bloomberg News reports

Globalfoundries

Globalfoundries

GFS

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** Shares of chip company GlobalFoundries GFS.O fall 6.6% to $84.01 after the bell

** Majority owner Mubadala Investment Company, Abu Dhabi's sovereign wealth fund, is seeking to raise $1.91 billion from an unregistered block sale of GFS shares, according to Bloomberg News

** The 22-million-share block is being marketed for $86.30 to $86.80 each and Morgan Stanley is working on the offering, Bloomberg says

** The share sale includes a 60-day agreement restricting further sales by Mubadala, according to the report; details of the offering could still change

** GFS has surged 157.6% YTD


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