2023-09-02 10:19:19
British chip developer arm
The company had previously been publicly listed — then in London and on Nasdaq — from 1998 to 2016 before acquiring Softbank for $32 billion.
(Photo: Reuters)
Berlin The British chip developer Arm Holdings Ltd. is targeting a valuation of more than $50 billion for its much-anticipated IPO, according to insider sources.
The company, owned by Japanese tech investor Softbank, was expected to price the shares on September 13 and begin trading on the Nasdaq tech exchange a day later, according to the person familiar with the matter.
Arm was founded 33 years ago as a joint venture between Acorn Computers, Apple and VLSI Technology. The company had previously been publicly listed — then in London and on Nasdaq — from 1998 to 2016 before acquiring Softbank for $32 billion.
When it comes to the IPO, tech giants like Apple, NVidia and AmazonAMZN.O are likely to be lining up to get at least a small stake in Arm.
More: Biggest IPO of the year: Chip specialist Arm begins return to the stock market
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