Arm Ltd. is expected to unveil its filing for an initial public offering as soon as Monday, giving the market a peek at the chip designer’s financial health seven years after it was acquired by SoftBank Group Corp.
The IPO, planned for September, is on track to be the year’s largest and could be one of the biggest tech listings ever on a US exchange. While Bloomberg News reported Arm was aiming to be valued at $60 billion to $70 billion in an IPO raising $8 billion to $10 billion, that target could be lower since SoftBank has decided to hold onto more of the company after buying Vision Fund’s stake in it.
Arm’s debut could spur dozens of startups such as online grocery delivery company Instacart Inc. and marketing and data automation provider Klaviyo to follow through — or further delay — their own IPO plans.It’s also the latest twist for Arm, which had a deal to be acquired by Nvidia Corp. that was called off last year after opposition from customers and regulators. The listing may lead to a payday for SoftBank, which is looking for a win after an expansion into startup investing that went awry.
The listing will be a welcome event for fee-starved investment bankers, whose commissions and bonuses have shrunk with the dearth of IPOs this year.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Former Pacific FC star Diaz set to meet his old team todayToday’s game in Langley, kick off 1 p.m., will see plenty of Island fans going across to support PFC
Read more »
Sights set on Paris in rugby sevens Olympic qualifying tournament at Starlight StadiumMen and women’s teams compete for place at 2024 Games
Read more »
Study shows most properties with a set offer date failed to sellOnly about 17 per cent of sellers who set offer dates actually received offers they accepted, according to real estate search service TopHouse
Read more »
Public hearing date set for the future of Birdsong ParkCity of Prince George is looking to officially designate a greenspace known as Birdsong Park as parkland
Read more »
Evan Dunfee, Ethan Katzberg set Canadian records on Day 1 of athletics worldsEvan Dunfee set a Canadian record to open his sixth World Athletics Championships and teammate Ethan Katzberg, making his debut at the event, followed suit about one hour later Saturday in Budapest, Hungary.
Read more »