: SoftBank’s Arm looks to raise at least $8 billion in U.S. IPO later this year: report


Arm Ltd., the British chip designer owned by Japan’s SoftBank Group Corp., is seeking to raise at least $8 billion in an upcoming U.S. initial public offering, according to a new report Sunday.

Reuters reported that Arm is expected to confidentially file for an IPO in April, with a public listing expected later this year, at a date to be determined by market conditions.

IPO preparations are expected to begin in the coming days, according to Reuters, and the company is hoping for a valuation above $50 billion.

On Friday, Arm said that a U.S. listing was the best path forward, and that it would maintain its U.K. headquarters and eventually seek to go public in London as well.

Reuters also reported that SoftBank has chosen four investment banks — Goldman Sachs Group Inc. GS, +2.29%, JPMorgan Chase & Co. JPM, +1.84%, Barclays BCS, +0.84% and Mizuho Financial Group MFG, +3.22% — to lead the deal.

ARM’s listing would give a significant boost to the IPO market on Wall Street, after a moribund 2022.

SoftBank bought Arm in 2016 for about $32 billion, and announced its intention to pursue an IPO after Nvidia called off a $40 billion acquisition in February 2022.

SoftBank shares 9984, +2.72% rallied in early Tokyo trading Monday; the stock is up 21% over the past 12 months.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleKey Words: TikTok could face U.S. ban as senators plan bipartisan bill
Next articleNext Avenue: Older women cheat, too: What research reveals about the extramarital affairs of women over 55


Please enter your comment!
Please enter your name here