2023-09-05 14:49:10
In what is probably the world’s largest IPO of the year, the British chip designer Arm is aiming for a company valuation of 52 billion dollars. According to the listing documents released on Tuesday, the previous owner, Softbank, is offering 95.5 million ARM shares, about nine percent of the company’s capital stock, at a price of $47 to $51 per share. This results in an issue volume of up to 4.87 billion euros.
The offer period is expected to run until September 13th. The arm’s debut on the US technology exchange Nasdaq is scheduled for the following day. According to insiders, the subscription range could be increased by then if demand develops strongly. In addition, numerous technology groups that are ARM customers wanted to participate in the chip designer, at least with comparatively small amounts, in order to secure further cooperation. According to the information, Softbank will hold almost 91 percent of Arm after the IPO.
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Arm was founded 33 years ago as a joint venture between Acorn Computers, Apple and VLSI Technology. Almost all smartphone processors are based on the company’s design. The company, which is based in Cambridge, UK, was listed on the stock exchange – then in London and on Nasdaq – from 1998 to 2016 before Softbank acquired it for $32 billion. A few days ago, the technology investor bought up the remaining ARM shares held by one of its funds. As part of this transaction, Arm was valued at $64 billion.
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