Arm Holdings plans to hold a roadshow for investors after Labor Day, according to people familiar with the matter, as the chip designer prepares for a much-anticipated initial public offering (IPO) in September. SoftBank Group Corp’s Arm is expected to set a price range for its offering next week, the sources said, adding that the company plans to price its shares on Sept. 13, with trading in the shares set to begin the next day.
According to previous reports by Reuters, SoftBank plans to sell about 10% of Arm in the IPO, with a valuation of US$60 billion (approximately Rs 4,960.95 billion) to US$70 billion (approximately Rs 5,806 billion). SoftBank has decided to sell fewer Arm shares in the IPO after buying a 25% stake in Arm that it does not directly hold from its Vision Fund arm.
Several of Arm’s clients have held talks about participating in an IPO, including Apple, Amazon, Intel, Nvidia, Alphabet, Microsoft, Samsung Electronics and TSMC, Reuters previously reported. Arm and SoftBank have set aside a 10% stake for their clients to sell in the IPO.
Arm’s successful IPO has been a boon for SoftBank, which posted a third straight quarterly loss in August as major holdings such as Chinese e-commerce firm Alibaba Group Holding Ltd, German telecom firm Deutsche Telekom and U.S. wireless carrier T Valuations are down. -US Mobile.
Goldman Sachs, JPMorgan, Barclays and Mizuho Financial Group are lead underwriters for the offering. Arm’s shares will be listed on Nasdaq under the symbol “ARM.”
Bloomberg reported on Arm’s IPO timetable earlier Thursday.
© Thomson Reuters 2023