Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

UK chip giant Arm files for blockbuster US share listing

UK chip giant Arm files for blockbuster US share listing

British microchip designing giant Arm has filed to sell its shares in the US, setting the stage for what could be the biggest stock market listing this year.
The Cambridge-based firm is reportedly aiming to raise up to $10bn (£8bn).

In a blow to the UK, the company said in March that it did not plan to list its shares in London.

Arm was bought in 2016 by Japanese conglomerate Softbank in a deal worth £23.4bn. At the time Arm was listed in London and New York.

The firm designs the tech behind processors - commonly known as chips - that power devices from smartphones to game consoles.

Its designs are used by chip manufacturers like the Taiwan Semiconductor Manufacturing Company and household brands like Apple and Samsung to build their own processors.

Softbank said it had "confidentially submitted a draft registration statement" for the listing to the US Securities and Exchange Commission (SEC).

The announcement did not reveal how much it planned to raise or when the share sale might take place.

The firm was seeking to raise between $8bn and $10bn through the listing this year on the technology-heavy Nasdaq platform in New York, according to reports.

Listing a firm on a stock exchange takes it from being a private to a public company, with investors able to buy and sell shares of a company's stock on specific exchanges.

Sometimes referred to as the "crown jewel" of the UK's technology sector, Arm was founded in Cambridge, England, in 1990.

Earlier this year, Arm said it did not plan to pursue a London Stock Exchange listing.

Reports in January said that UK Prime Minister Rishi Sunak had restarted talks with Softbank about a possible London listing.

Arm's decision raised concerns that the UK market is not doing enough to attract tech company stock offerings, with US exchanges seen to offer higher profiles and valuations.

The registration shows that Softbank is pushing ahead with the multi-billion dollar sale despite difficult conditions in the global financial markets.

The number of stock market listings has fallen sharply since Russia's invasion of Ukraine. At the same time, shares in major technology companies have fallen in the wake of the pandemic.

Softbank said the listing was "subject to market and other conditions and the completion of the SEC's review process."

Last year, Softbank called off its planned $40bn sale of Arm to technology group Nvidia after facing regulatory hurdles in the UK, US and EU.

After an acute shortage of semiconductors during the pandemic, the chip making industry has faced slowing demand.

Last week, US chipmaking giant Intel reported its largest quarterly loss in the company's history, while South Korean rival Samsung posted a more than 90% fall in its profits.

A successful stock market listing of Arm would be welcome news for its owner Softbank. Its Vision Funds have been hit by losses due to the declining valuations of many of its investments in technology start-ups.
Newsletter

Related Articles

Budapest Post
Close
0:00
0:00
Venezuela Steps Up Claim on Guyana's Essequibo Region
Spain's First AI Model Earns Up to $10,000 Monthly
German Cabinet Works to Address 'No-Debt' Crisis After Court Outlaws Budget
Former President Restricted from Leaving Ukraine Amid Alleged Plan to Meet Hungary's Viktor Orban
Spain soccer kiss: Furore grows as prosecutors launch probe against federation chief
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Steve Jobs' Son Launches Venture Capital Firm With $200 Million For Cancer Treatments
Greek PM offers tourists affected by wildfires a free stay in Rhodes next year.
Israel: Unprecedented Civil Disobedience Looms as IDF Reservists Protest Judiciary Reform
Google reshuffles Assistant unit, lays off some staffers, to 'supercharge' products with A.I.
End of Viagra? FDA approved a gel against erectile dysfunction
UK sanctions Russians judges over dual British national Kara-Murza's trial
US restricts visa-free travel for Hungarian passport holders because of security concerns
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Political leader from South Africa, Julius Malema, led violent racist chants at a massive rally on Saturday
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
How “peacekeepers” at the UN spend our American tax dollars.
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Spanish Citizenship Granted to Iranian chess player who removed hijab
US Senate Republican Mitch McConnell freezes up, leaves press conference
Speaker McCarthy says the United States House of Representatives is getting ready to impeach Joe Biden.
San Francisco car crash
This camera man is a genius
3D ad in front of Burj Khalifa
Next level gaming
BMW driver…
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
Swedish Embassy in Baghdad Engulfed in Flames Amidst a Firestorm of Protests
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Muslim Tycoon Asif Aziz Receives Approval for the Transformation of the iconic London Trocadero Landmark into Mosque
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
Europe is boiling: Extreme Weather Conditions Prevail Across the Continent
×