SoftBank Looks To List Arm In US, Ditching Its Home Market

SoftBank Group Corp SFTBY SFTBF CEO Masayoshi Son looks to list British chip designer Arm Ltd in the U.S., shunning its home market, CNBC reports.
Son aims for a "big IPO" and looks to publicly list Arm on the tech-focused Nasdaq stock market within the fiscal year ending March 31, 2023.
Roughly 95% of the world's smartphones use Arm's energy-efficient chip architectures.
Related Content: SoftBank Aims For Arm IPO After Nvidia Dumps Takeover Plans
NVIDIA Corp NVDA recently dropped the idea of acquiring Arm amid regulatory opposition.
Hussein Kanji, a venture capitalist at Hoxton Ventures in London, considers it "irrational" for SoftBank to prioritize a U.K. listing over a U.S. listing.
"There is no upside in listing in the U.K. and enough downside," he said, pointing to a lack of research, low valuations, and the press. "You need upside with downside to convince people to switch."
Arm could also opt for a dual-listing again.
"We are in the middle of a blizzard," Son said. "The market environment is tough. The long-term interest rate is going up. The monetary policy of the governments is changing around the world. So the high-growth companies are getting hit with the stock market situation. But the AI revolution is continuously growing. Big time. So we are excited."
Price Action: NVDA shares traded higher by 2.51% at $257.38 in the premarket session on the last check Wednesday.