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SoftBank Group Corp's Arm Holdings Ltd reported a 1% fall in annual revenue due to a slowdown in smartphone sales, after the chip designer disclosed the paperwork for an initial public offering (IPO) that is expected to be the largest of the year.
Softbanks' chip designer firm, Arm, files for Nasdaq listing and is preparing for the biggest U.S. Initial Public Offering (IPO) in the last two years.
Arm did not reveal the number of shares it was selling or the pricing of its offering but it is reportedly looking for a valuation of between 60 to 70 billion dollars. ahead of the ipo, the cambridge base company revealed revenue was down 1% from a year earlier. the company, which is currently owned by japan's softbank, is a chip designer whose technology powers most smartphones around the world, including iphones. in 2020, silicon valley chip maker nvidia tried to buy arm but the deal fell through because of regulatory scrutiny. despite that setback, nvidia is apparently in talks to take a ma...
TOKYO (Reuters) -Japan's SoftBank Group posted a surprise loss but said it was dipping its toes back into new investments after its Vision Fund unit returned to the black for the first time in six quarters. The Vision Fund unit booked an investment gain of about 160 billion yen ($1.1 billion) for the April-June period, helped by an increased valuation for Arm, the chip designer slated for an initial public offering later this year. The investment giant has been in "defence mode" since May 2022 after tech valuations crashed due to sharply higher interest rates and jitters that ...
The roadshow is scheduled to start in the first week of September with pricing for the IPO to come in the following week, Bloomberg said. Arm plans to sell its shares on Nasdaq later this year, seeking to raise between $8 billion and $10 billion, people familiar with the matter told Reuters in April.