Abu Dhabi: The Mubadala Investment Company announced on Friday the sale of shares in the US-based semiconductor company, Advanced Micro Devices (AMD).
This sale on the public markets equated to 40 million common equity shares, or 3.9 per cent of the outstanding shares of the company on a fully diluted basis, inclusive of warrants and excluding the convertible bonds, Mubadala said in a statement.
Following the transaction, Mubadala continues to be the largest shareholder in AMD, holding 57 million common shares and 75 million warrants representing 12.9 per cent ownership.
“This is in line with Mubadala’s strategy, as a financial investor with a long-term perspective, to optimise our shareholding in certain assets and monetise them at the appropriate time. We continue to believe strongly in AMD and are confident in the management team’s ability to execute against its technology and product road maps,” said Brian Lott, spokesman for Mubadala.
The value of the deal was not disclosed. According to Reuters calculations, the sale value was $529.6 million based on AMD’s closing share price of $13.24 on Thursday.
Mubadala Investment Company was created after the merger of Mubadala Development Company and International Petroleum Investment Company in January this year.
With total assets of $125 billion, the company has presence in more than 30 countries with stakes in General Electric and private equity firm Carlyle, Spanish energy firm Cepsa and Austrian energy firm OMV, Unicredit, Global Foundries, Virgin Galactic and UAE construction firm Arabtec.
