SoftBank plans to sell about 10 percent of Arm's shares in
the IPO at a valuation of $60 billion to $70 billion, Reuters has previously
reported. SoftBank decided to sell fewer Arm shares in the IPO after buying the
25 percent stake in Arm it did not directly own from its Vision Fund unit.
Several customers of Arm have held talks about taking a
piece of the IPO including Apple, Amazon.com, Intel, Nvidia, Alphabet,
Microsoft, Samsung Electronics, and TSMC, Reuters has previously reported. Arm
and SoftBank have set aside 10 percent of the shares to be sold in the IPO for
its clients.
A successful IPO for Arm would be a boon for SoftBank, which
in August reported its third consecutive quarterly loss, hit by declines in
valuations of major holdings such as Chinese e-commerce firm Alibaba Group,
German telecommunications company Deutsche Telekom and US wireless carrier
T-Mobile US.
Goldman Sachs Group, JPMorgan Chase, Barclays, and Mizuho
Financial Group are the lead underwriters for the offering. Arm's shares will
be listed on the Nasdaq and traded under the ticker symbol 'ARM'.
Bloomberg reported on Arm's IPO timeline earlier on
Thursday. © Reuters
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