SoftBank's Arm registers for blockbuster U.S. IPO - Reuters News Agency
Business & FinanceDealsTechnology

SoftBank’s Arm registers for blockbuster U.S. IPO

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.  

Market Impact

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.

Article Tags
Topics of Interest: Business & FinanceDealsTechnology
Type: Reuters Best
Sectors: Business & FinanceTechnology
Regions: Americas
Countries: United States
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
FILE PHOTO: A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
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