British chip designer Arm Ltd., owned by Japan’s SoftBank Group Corp., is looking to raise at least $8 billion in its upcoming US IPO, according to a new report on Sunday.
Reuters reported Arm filed for a confidential IPO in April and plans to go public later this year on a date determined by market conditions.
According to Reuters, preparations for the IPO will begin soon, and the company expects a valuation of over $50 billion.
Arm said on Friday Listing in the US was the best pathand will maintain its UK headquarters, with an eventual IPO in London.
Reuters also reported that SoftBank has selected four investment banks — Goldman Sachs Group Inc.
JPMorgan Chase & Company
Mizuho Financial Group
— Lead deals.
ARM’s listing would give the Wall Street IPO market a big boost. Dying 2022.
Softbank acquires Arm About $32 billion in 2016subsequently announced its intention to pursue an IPO. Nvidia scrapped $40 billion acquisition in February 2022.
It rose in Tokyo trading on Monday. The stock is up 21% over the past 12 months.
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