LAGOS, Nigeria (VOICE OF NAIJA)-Apple and Samsung Electronics will participate in SoftBank Group-owned chip manufacturer Arm’s initial public offering (IPO), which is scheduled to take place in September.
According to Reuters, Arm was in discussions with about ten businesses, including Apple, Samsung, and Intel, in order to secure one or more anchor investors for the offering.
The US chip designer Nvidia was reportedly being courted by Arm to serve as an anchor investor for the New York listing, according to Reuters and other media outlets last month.
The Nikkei said that Apple, Samsung, Nvidia, and Intel all intend to invest in Arm as soon as it is listed on the market.
Later this month, according to the newspaper, the SoftBank-owned company will formally submit an application to the US Securities and Exchange Commission for the listing.
The publication reported that Arm intended to sell “a few percent each” of the chipmakers’ interests.
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SoftBank opted out of commenting. Reuters contacted Apple, Nvidia, and Intel for comment, but none of them responded right away. Samsung did not respond right away.
The long-awaited IPO is anticipated to be a financial boon for the sizable tech company headed by Softbank founder and CEO Masayoshi Son.
Since its agreement to sell the chip designer to Nvidia fell through last year because of concerns from antitrust authorities, SoftBank has been aiming for a listing for Arm.
According to sources who spoke to Reuters in April, the anticipated US offering may generate between $8 billion (approximately Rs. 66,292) and $10 billion (about Rs. 82,856).
SoftBank’s chief financial officer said on Tuesday that preparations were “very smoothly” but gave no information on a listing date or a fundraising target.
However, when its Vision Fund business went to the black for the first time in six quarters, SoftBank indicated it was dipping its toes back into fresh investments. Tuesday’s surprising loss was reported by SoftBank.