Softbank-owned chip designer Arm is looking to raise $8 billion in a US IPO, report says
Softbank-owned chip designer Arm is looking to raise at least $8 billion when it lists on the US stock market later this year,The British firm is likely to put forward the documents for its initial share sale toward the later part of next month, the publication said, citing people familiar with the matter. While Arm is planning its market debut for later this year, the precise timing will depend on market circumstances, Reuters said, citing the sources.
The reported size of the equity offering would make Arm one of the biggest US stock market launches in about a decade. Arm is targeting a valuation of more than $50 billion with the share sale, according to the report. that bankers were pitching valuations from $30 billion to $70 billion for the UK-based firm, adding that the wide range reflects how hard it is to estimate the value of the company given volatile semiconductor equity prices.
While no specific bank has been selected for the"lead left" role, Goldman Sachs, JPMorgan Chase & Co, Barclays, and Mizuho Financial Group, are likely to be the lead underwriters for the deal, according to the Reuters report. Tokyo-based SoftBank tried selling Arm to chip designer Nvidia for $40 billion last year, but the deal fell through because of
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