Softbank-owned Arm Holding, a British semiconductor and software design company, announced on Monday, August 21, that it has filed for its Initial Public Offering (IPO) on the Nasdaq exchange under the ticker “ARM.”
According to experts, ARM’s IPO is expected to be one of the largest IPOs in recent years. However, the company did not provide proposed terms for the share sale in the document. Arm is expected to seek a valuation of $60B to $70B.
Raine Securities LLC acted as a financial advisor while Barclays, Goldman Sachs, J.P. Morgan, and Mizuho are joint book-running managers for the proposed offering.
According to the filing, ARM reported $524M in net income on $2.68B in revenue in fiscal 2023, just below its $2.70B the year before. Sales for the Q2 dropped 2.5 per cent to $675M.