GlobalFoundries Announces Public Offering and Share Repurchase

Semiconductor manufacturer plans $300 million buyback as part of secondary public offering.

Mar. 11, 2026 at 10:06pm

Got story updates? Submit your updates here. ›

GlobalFoundries (Nasdaq: GFS), a leading semiconductor manufacturer, has announced the launch of a secondary public offering of 20 million ordinary shares. The offering is being made by the company's largest shareholder, Mubadala Technology Investment Company, a subsidiary of Mubadala Investment Company. Concurrently, GlobalFoundries intends to repurchase approximately $300 million of its own shares from the underwriters as part of a $500 million share repurchase program approved by its board in February 2026.

Why it matters

The secondary offering and concurrent share repurchase are part of GlobalFoundries' ongoing efforts to optimize its capital structure and provide liquidity to its major shareholder. The move comes as the semiconductor industry faces supply chain challenges and increased demand for chips across various sectors, including automotive, consumer electronics, and communications infrastructure.

The details

The public offering will consist of 20 million ordinary shares, with the underwriters granted a 30-day option to purchase up to an additional 3 million shares. GlobalFoundries will not receive any proceeds from the sale of shares by the Selling Shareholder. The company intends to fund the $300 million share repurchase using its existing cash on hand, with the repurchase closing substantially simultaneously with the public offering.

  • GlobalFoundries announced the offering and share repurchase on March 11, 2026.
  • The public offering and share repurchase are expected to close in the coming weeks.

The players

GlobalFoundries

A leading manufacturer of essential semiconductors, serving customers in the automotive, smart mobile devices, internet of things, and communications infrastructure markets.

Mubadala Technology Investment Company

A wholly owned subsidiary of Mubadala Investment Company PJSC, which is GlobalFoundries' largest shareholder.

J.P. Morgan Securities LLC

One of the lead book-running managers for the public offering.

Morgan Stanley & Co. LLC

The other lead book-running manager for the public offering.

Got photos? Submit your photos here. ›

What’s next

The public offering and share repurchase are expected to close in the coming weeks, subject to customary closing conditions.

The takeaway

GlobalFoundries' move to launch a secondary public offering and concurrent share repurchase reflects the company's efforts to optimize its capital structure and provide liquidity to its major shareholder, Mubadala, amid ongoing challenges and opportunities in the semiconductor industry.