Chipmaker Arm has filed for an IPO in the US
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The British chip manufacturer Arm Ltd, which is owned by the Japanese SoftBank Group, has filed documents for an initial public offering of shares on the US stock exchange, which may become the largest IPO this year, Reuters writes with reference to Arm’s statement.
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Preparation for IPO
Arm plans to list its shares on the Nasdaq exchange by the end of this year. The company expects to raise from $8 billion to $10 billion through the IPO, writes Reuters with reference to informed sources.
Arm’s statement says that the size and price range of the offer will be determined later. SoftBank and Arm declined to comment.
SoftBank has been planning to put Arm on an IPO since last year’s $40 billion purchase of the chip manufacturer by the American company Nvidia failed due to opposition from US and European regulators.
In March, SoftBank already announced its intention to start trading Arm shares on the US stock exchange, despite market volatility and economic instability, Reuters notes.
Read: The volume of global IPOs fell to the lowest level since 2019
Let’s remind
According to Dealogic, since the beginning of the year, IPOs in the USA (excluding SPAC listings, special purpose companies without assets) managed to attract only $2.35 billion, which is 22% less than a year earlier.
However, now the IPO market is starting to thaw, Reuters notes. The agency points to the plans of Johnson & Johnson Inc next week to conduct an initial public offering of its division in the field of consumer healthcare Kenvue, the company expects to attract about $3.5 billion to the IPO.
Since the beginning of 2023, companies have attracted $19.7 billion in initial public offerings (IPOs) around the world — this is the lowest figure since 2019, Bloomberg noted in March. According to the agency, which refers to its own calculations, the volume of global IPOs decreased by 70% compared to the same period last year.
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Source: Ministry of Finance
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