British chip designer Arm Co., Ltd. Owned by Japan SoftBank Group Corp. SFTBFMore SFTBYreportedly aiming to raise at least $8 billion in its debut on the American stock market after avoiding calls for a dual listing in the United States.
what happenedThe British company has confidentially filed documents for a U.S. initial public offering in April, with the listing expected later this year depending on market conditions, Reuters reported, citing people familiar with the matter. It is scheduled to take place.
Goldman Sachs Group Inc., JPMorgan Chase & Company, barclays and Mizuho Financial Group Neither has been finalized, but they are expected to act as lead underwriters for the deal, according to the report.
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Arm is expected to be worth more than $50 billion when the shares are sold, the sources said.
why it matters: SoftBank has asked Arm for a $60 billion valuation in 2022. NVIDIA It plunged sharply after fierce opposition from regulators and customers.
The success of the Arm IPO is also seen as one of the keys to revitalizing investment activity in Japanese conglomerates.
price action: SFTBF shares closed more than 1% higher at $41.30 on Friday and surged nearly 3.7% in after-hours trading, according to Benzinga Pro data.
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