Arm Holdings Ltd. has finally submitted its highly anticipated initial public offering (IPO) late on Monday, following a thwarted attempt by Nvidia Corp. the previous year to acquire the British-based chip architecture company. With aspirations to raise between $8 billion and $10 billion, and a targeted valuation ranging from $60 billion to $70 billion, Arm’s IPO stands as the most significant of the year thus far. Notably, major players in the tech industry like Amazon, Intel, and Nvidia are said to be in contention as key investors.
In its filing with the Securities and Exchange Commission, submitted late on Monday, Arm detailed its intention to list its shares on the Nasdaq under the ticker symbol “ARM.” This pivotal move comes after Japan’s SoftBank Group Corp., the current owner of Arm, rejected Nvidia’s $40 billion takeover endeavor last year.
Leading financial institutions such as Barclays, Goldman Sachs, JP Morgan, Mizuho, BofA Securities, Citigroup, and Deutsche Bank Securities have been named as underwriters for Arm’s IPO. Recent reports have indicated that SoftBank is engaged in discussions to acquire the remaining 25% stake in Arm currently held by its Vision Fund 1, ahead of the impending IPO.
(Source: Ian King | Michael Hytha | Bloomberg)
