Chipmaker GlobalFoundries Falls in Stock Market Debut
2021-10-28 10:10:43
Chipmaker GlobalFoundries GFS made its stock market debut Thursday on the Nasdaq Global Market at $44.50 a share, 5% lower than its initial public offering price of $47.
Shares of the Malta, N.Y., company at last check fell 4.2% to $45.04. GlobalFoundries trades under the ticker symbol GFS.
Its IPO of 55 million shares was priced at $47 on Wednesday, the top end of its forecast range. The deal raised nearly $2.6 billion.
The underwriters have an option on 8.25 million more shares.