Paperwork confirms parent paid $16B for 25% stake held by Vision Fund
Arm on Monday publicly filed for an initial public offering on the Nasdaq stock market, under the ticker ARM.to become a public traded company once again, it will likely remain under majority control of Japanese parent SoftBank.today, Arm did not reveal the number of shares it will list nor the price it expects them to go on sale at. References to these figures were left blank in the official filing.
Another detail raised in the filing is Arm's financial standing. Despite the global chip slump, which has battered many of Arm's largest customers - including Samsung and Qualcomm in recent quarters - the biz's revenues and profits only dipped slightly during the 2023 fiscal year. According to the filing, after seeing global revenues surge 33 percent to $2.703 billion in its fiscal 2022, Arm's sales wobbled slightly downward in FY 2023 to $2.679 billion. Over the same period net income fell a little from $549 million to $524 million, which is a lot better than some other chip designers have fared.
SoftBank took Arm private in 2016, in a deal valued at $32 billion, before attempting to sell the Neoverse designer to Nvidia in 2020 for $40 billion. That dealin early 2022 after Nvidia failed to garner the necessary regulatory approval to move forward — a blunder that ultimately cost the GPU giant $1.25 billion in fees.
Following the failed sale, it was widely expected Arm would pursue an IPO. However, those rumors weren't confirmed until nearly a year later, when Armfor a public listing. The UK government lobbied to have the company, which employs roughly 7,000 employees across North America, Europe, and Asia, list on the London Stock Exchange, perhaps as part of a plan to list on more than one bourse.
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