SoftBank’s Son says Japanese conglomerate to most likely list British chip designer Arm on Nasdaq
Preparations for IPO came after Nvidia was forced to call off $40 billion deal to acquire Arm
• Preparations for IPO came after Nvidia was forced to call off $40 billion deal to acquire Arm
SoftBank Group Corp’s founder and CEO Masayoshi Son, on Friday, restated that the Japanese conglomerate will most likely list the British-based chip designer unit Arm on Nasdaq.
“Most of Arm’s clients are based in Silicon Valley and ... stock markets in the US would love to have Arm,” Son told shareholders at the company’s annual general meeting but also stressed that any decision has not been made yet.
Son said there are several requests to list Arm in London without elaborating on where who requested. The entrepreneur also did not say whether the Japanese giant is considering a secondary listing for Arm in LSE.
The preparations for Arm’s initial public offering came after Nvidia Corp (NASDAQ: NVDA) was forced to call off the $40 billion deal to acquire the chip designer in February due to objections from US and European antitrust regulators.
The Cambridge-based Arm was listed on London Stock Exchange with a secondary listing in the United States before SoftBank acquired it in 2016 for $32 billion.
Picture Credit: Fortune
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