ARM registers for US initial public offering
ARM has registered for a US stock market listing. In a press release published Saturday, the mobile chip company said it recently confidentially submitted a draft F-1 form to the Securities and Exchange Commission. According to Reuters, ARM hopes to raise between $8 billion and $10 billion dollars when it holds the initial public offering later this year, though over the weekend the company said it had yet to determine the size and price range of the proposed IPO.
ARM parent company SoftBank has been eyeing a public listing ever since NVIDIA’s $40 billion bid to buy the chip maker fell through at the start of last year due to regulatory resistance from the US Federal Trade Commission and other antitrust watchdogs. In March, SoftBank said it would list ARM on the US stock market after rebuffing a push for a London listing from the United Kingdom government. ARM designs the processor components used in almost every mobile device, including models from Apple and Samsung. Its licensing model means nearly every tech company depends on ARM designs. According to a recent Financial Times report, the company recently began work on a prototype chip that is “more advanced” than any semiconductor produced in the past.
Published at Sun, 30 Apr 2023 20:19:42 +0000
