GlobalFoundries is working with Morgan Stanley as it launches its first U.S initial public offering, according to Bloomberg. The chipmaker company could be valued at $30 billion should the deal sail through.
Plans could change as talks are in the initial stage and no public announcement has been made yet.
GlobalFoundries supporter Abu Dhabi’s Mubadala Investment Co. has been considering a U.S IPO in favor of the company and is seeking the help of advisers.
The entrant of the chipmaker into the market comes at a time when there is inadequate supply of semiconductors across the globe.
TSMC and Samsung Electronics, who are GlobalFoundries competitors, have been unable to meet global chip demand.
Morgan Stanley closed up 0.51% on Wednesday.
