Cleary Gottlieb Steen & Hamilton is leading on two Abu Dhabi IPOs that are expected to reflect the current strength of the Middle East’s capital markets as the recovery from COVID-19 gains momentum.

Owned by Mubadala Investment Company, Global Foundries, among the the world’s largest chip makers, is seeking to place around $1 billion worth of its equity on the New York Nasdaq Stock Exchange before year’s end.