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.
A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustrationchip 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.it planned to list Arm in the U.S.
U.S. IPOs, excluding listings for special purpose acquisition companies, are down about 22% 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. Arm plans to sell its shares on Nasdaq later this year, seeking to raise between $8 billion and $10 billion, the sources said.
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
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