SoftBank to List Arm on Nasdaq in September, Seeking $70 Billion Valuation
SoftBank Group Corp. is planning to list its chip unit Arm on the Nasdaq stock exchange in September, seeking a valuation of up to $70 billion, according to people familiar with the matter.
The listing would be the biggest initial public offering in the United States this year and a major victory for SoftBank, which has been trying to take Arm public for several years.
Arm is a leading chip designer that licenses its technology to many of the world's biggest tech companies, including Apple, Samsung, and Qualcomm. The company is seen as a key player in the development of artificial intelligence and other cutting-edge technologies.
SoftBank is expected to sell about 10% of Arm's shares in the IPO. The company is also considering selling a stake in Arm to a strategic investor, such as a rival chipmaker or a government-backed fund.
The IPO is still subject to regulatory approvals. If it goes ahead, it would be a major milestone for Arm and SoftBank. It would also be a sign of confidence in the chip industry, which has been hit by a global shortage in recent months.