NEW YORK : SoftBank Group Corp's chip maker Arm Ltd has filed with regulators confidentially for a U.S. stock market listing, people familiar with the matter said on Saturday, setting the stage for this year's largest initial public offering. While SoftBank had said in March it planned to list Arm in the
NEW YORK : SoftBank Group Corp's chip maker Arm Ltd has filed with regulators confidentially for a U.S. stock market listing, people familiar with the matter said on Saturday, setting the stage for this year's largest initial public offering.
U.S. IPOs, excluding listings for special purpose acquisition companies, are down about 22 per cent to a total of just $2.35 billion year-to-date, according to Dealogic, as stock market volatility and economic uncertainty put many IPO hopefuls off. The sources cautioned that the exact timing and size of the IPO are subject to market conditions and asked not to be identified because the matter is confidential.There are signs that the IPO market is beginning to thaw. Johnson & Johnson Inc is preparing to list its consumer health business Kenvue Inc in New York next week, hoping to raise about $3.5 billion.
Since then, Arm's business has fared better than the broader chip industry thanks to its focus on data center servers and personal computers that generate higher royalty payments. The company said sales were up 28 per cent in its most recent quarter.
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