ABU DHABI: Abu Dhabi’s Mubadala Investment Company on Friday said it sold a 3.9 percent stake in Advanced Micro Devices in its second sale of shares in the US-based semiconductor company this year.
State-owned Mubadala sold 40 million shares or 3.9 percent of the outstanding shares of the company, inclusive of warrants and excluding the convertible bonds, Mubadala spokesman Brian Lott said.
The value of the deal was not disclosed.
According to Reuters calculations, the sale value was $529.6 million (SR1.98 billion) based on AMD’s closing share price of $13.24 on Thursday.
“This is in line with Mubadala’s strategy as a financial investor with a long-term perspective, to optimize our shareholding in certain assets and monetize them at the appropriate time,” Lott said.
In March, Mubadala sold 45 million shares for around $613 million.
Mubadala continues to be the largest shareholder in AMD, holding 57 million common shares and 75 million warrants, representing a 12.9 percent stake.
Mubadala, which has stakes in General Electric and private equity firm Carlyle Group, among others, was formally merged with another Abu Dhabi investment fund, International Petroleum Investment Company in January.
The merger created a firm with assets of about $122 billion based on valuations at the end of 2016.
Abu Dhabi’s Mubadala sells 3.9% stake in chipmaker AMD
Abu Dhabi’s Mubadala sells 3.9% stake in chipmaker AMD
DP World announces new leadership appointments
DUBAI: DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer.
Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive experience in financial and economic affairs, having previously held senior leadership positions in several national institutions.
Yuvraj Narayan has extensive professional experience in financial management, corporate finance, supply chains, and global trade. Since joining DP World in 2004, he has led a number of strategic and transformational initiatives that supported the company’s expansion across international markets and strengthened its role as an integrated global provider of end-to-end supply chain solutions.
Narayan has served as Group Chief Financial Officer since 2005, contributing to the company’s financial resilience and operational efficiency.
DP World affirmed that the new appointments support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.
