SoftBank’s Arm registers for blockbuster U.S. IPO
Reuters
Reuters was first to report that SoftBank Group Corp’s chip maker Arm Ltd has filed with regulators confidentially for a U.S. stock market listing, setting the stage for this year’s largest initial public offering. While SoftBank had said in March it planned to list Arm in the U.S. stock market, the company’s IPO registration shows that it is pressing ahead with the blockbuster offering despite adverse market conditions. Arm plans to sell its shares on Nasdaq later this year, seeking to raise between $8 billion and $10 billion.
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