UK Chip Giant Arm Files for Blockbuster US Share Listing
upstart writes:
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.
[...] 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.
See also: Arm Registers for US Initial Public Offering
Read more of this story at SoylentNews.