Reuters was first to report that SoftBank Group Corp’s chip maker Arm Ltd has filed with regulators confidentially for a U.S. stock market listing, setting the stage for this year’s largest initial public offering. While SoftBank had said in March it planned to list Arm in the U.S. stock market, the company’s IPO registration shows that it is pressing ahead with the blockbuster offering despite adverse market conditions. Arm plans to sell its shares on Nasdaq later this year, seeking to raise between $8 billion and $10 billion.
Business & FinanceDealsTechnology
SoftBank’s Arm registers for blockbuster U.S. IPO
29 April 2023, 3:29 pm 1 minute
Arm’s IPO is expected to boost the fortunes of SoftBank, which is battling to turn around its giant Vision Fund, which has been hit by losses due to the declining valuations of many of its holdings in technology startups.
Topics of Interest: Business & FinanceDealsTechnology
Type: Reuters Best
Sectors: Business & FinanceTechnology
Countries: United States
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story