Softbank Goes Cautious On Arm's US IPO, Eyes $10B Fund Raise

May 12, 2023 9:56 AM | 1 min read | Make a Comment

Softbank Group Corp SFTBF SFTBY is weighing investor appetite for an initial public offering of British chip designer Arm Ltd, which could raise $10 billion.
Softbank may launch the share sale in New York by September, Bloomberg cites familiar sources.
In April, Arm confidentially filed for a U.S. listing.
Bankers have pitched a valuation of $30 billion - $70 billion for Arm.
Arm's net sales rose 28% to 92.8 billion yen ($688 million) in the fourth fiscal quarter. It lost 6.2 billion yen after making 10.1 billion yen a year earlier.
Softbank's deal to sell the chipmaker to rival Nvidia Corp NVDA collapsed in early 2022.
Price Action: SFTBY shares are trading lower by 1.56% at $18.97 on Thursday.
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