GlobalFoundries IPO: the third-largest in the world.

GlobalFoundries previously gave up on the kind of leading-edge production that would match the capabilities of Taiwan Semiconductor or Samsung. Instead, it’s serving the market for less advanced chips, which are increasingly critical to carmakers and other industries.

The IPO was led by Morgan Stanley, Bank of America Corp., JPMorgan Chase & Co., Citigroup Inc. and Credit Suisse Group AG. The company’s shares are trading on the Nasdaq under the symbol GFS.