- Softbank Group Corp SFTBF SFTBY is weighing investor appetite for an initial public offering of British chip designer Arm Ltd, which could raise $10 billion.
- Softbank may launch the share sale in New York by September, Bloomberg cites familiar sources.
- In April, Arm confidentially filed for a U.S. listing.
- Bankers have pitched a valuation of $30 billion - $70 billion for Arm.
- Arm's net sales rose 28% to 92.8 billion yen ($688 million) in the fourth fiscal quarter. It lost 6.2 billion yen after making 10.1 billion yen a year earlier.
- Softbank's deal to sell the chipmaker to rival Nvidia Corp NVDA collapsed in early 2022.
- Price Action: SFTBY shares are trading lower by 1.56% at $18.97 on Thursday.
- Photo via Wikimedia Commons
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
