GlobalFoundries Slips in Debut After $2.6 Billion IPO
- Mubadala-backed chipmaker’s shares end first day down 1.3%
- CEO Caulfield expects 2022 to be a difficult for customers
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GlobalFoundries Inc., backed by Mubadala Investment Co., fluctuated in its trading debut, ending its first day as a public company down 1.3%.
The chipmaker’s shares began trading in New York Thursday at $47, the price in its initial public offering. The shares, which first fell as much as 5.3% and then rebounded up to 2.1%, closed at $46.40, giving the company a market value of almost $25 billion.