(Reuters) -Semiconductor giant GlobalFoundries, a unit of Abu Dhabi’s state-owned fund Mubadala, made public its paperwork for a stock market listing in the United States on Monday, taking a step towards one of the most hotly awaited listings this year.
GlobalFoundries’ net revenue for the six months ended June 30 was $3.04 billion, up nearly 13% from a year earlier. Net loss in the same period narrowed to $301 million from $534 million a year earlier.
The U.S.-based company’s listing plan comes as the broader industry that includes automakers and electronics producers has been crimped by a global shortage of chips, which has fuelled manufacturing delays.
GlobalFoundries has not yet set terms for its listing, but it could seek a valuation as high as $25 billion, Reuters reported earlier.
(Reporting by Niket Nishant in Bengaluru; Editing by Uttaresh.V and Shounak Dasgupta)
