NEW YORK: Arm Ltd, the British chip designer owned by Japan's SoftBank Group Corp, is likely to aim to raise at least US$8 billion from what is expected to be a blockbuster US stock market launch this year, people familiar with the matter said on Sunday (Mar 5). Arm is expected to confidentially submit pap
NEW YORK: Arm Ltd, the British chip designer owned by Japan's SoftBank Group Corp, is likely to aim to raise at least US$8 billion from what is expected to be a blockbuster US stock market launch this year, people familiar with the matter said on Sunday .
SoftBank has picked four investment banks to lead what is expected to be the most high-profile stock market flotation in recent years. Goldman Sachs Group Inc, JPMorgan Chase & Co, Barclays and Mizuho Financial Group are expected to be the lead underwriters for the deal, the sources said, adding that no bank has been picked for the much-coveted"lead left" position yet.The preparations for the IPO are expected to be kick-started in the US in the coming days, the sources said.
A successful listing for Arm this year would provide a boost to the IPO market, which has been largely frozen since Russia's invasion of Ukraine in February 2022 triggered market volatility and a huge sell-off in tech stocks. IPO advisors are not expecting a full-blown recovery in capital markets until the latter half of this year.
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