The Strategist

Chip maker Arm files for IPO in USA

05/01/2023 - 06:05

The SoftBank Group of Japan, which owns the British chipmaker Arm, has applied for an initial public offering in the US.

According to a statement from British chipmaker Arm Ltd, which is controlled by Japan's SoftBank Group, the company has filed for an initial public offering on a U.S. stock exchange that may end up being the largest IPO of the year.

Arm intends to float its shares on the Nasdaq exchange by the end of this year. Informed sources told Reuters that the business anticipates raising between $8 billion and $10 billion through the IPO. The quantity and pricing range of the service will be decided later, according to a statement from Arm. Arm and SoftBank declined to comment.

SoftBank has been planning to list Arm in an IPO since last year. Despite market turbulence and economic unpredictability, SoftBank had already announced its intention to begin trading Arm shares on the American stock exchange in March, according to Reuters.


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