SoftBank's Arm aims for $8 bln U.S. IPO - sources
STORY: British chip designer Arm has plans for a blockbuster U.S. share sale.
That’s according to Reuters sources.
They say the firm owned by Japan’s SoftBank will aim to raise $8 billion or more.
The sources say paperwork will be filed next month, with a listing set to happen later in the year.
A valuation for the firm hasn’t been set, but Arm is reportedly hoping for a number above $50 billion.
Any listing would be a shot in the arm for the IPO market.
It’s been largely frozen since the start of conflict in Ukraine.
IPO advisors still don’t expect a full recovery until the latter half of this year.
Arm’s choice of the U.S. has been seen as a big snub for London.
It dashed hopes that the tech giant would return to the City, where it was listed until bought out by SoftBank.
The Japanese investor has been pushing for a listing since a deal to sell Arm to chipmaker Nvidia was quashed by competition watchdogs.