SoftBank-backed Arm’s long march to nearly $60 billion Nasdaq debut By Reuters
<p> <br />
</p>
<div>
<div>
<img decoding="async" alt="SoftBank-backed Arm's long march to nearly $60 billion Nasdaq debut" id="carouselImage" src="https://i-invdn-com.investing.com/trkd-images/LYNXMPEJ8D0K5_L.jpg" style="visibility:hidden" /><br />
<span>© Reuters. The Arm Ltd logo and a U.S. flag are seen in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File photo</span><br />
<i class="imgGrad"/>
</div>
<p>(Reuters) – Shares of SoftBank (TYO:)’s Arm Holdings opened 10% above their offer price in their Nasdaq debut on Thursday, giving the chip designer a valuation of nearly $60 billion in its return to the public markets after seven years.</p>
<p>Its stock opened at $56.10 per American Depositary Share compared with the initial public offering (IPO) price of $51, in a sign of confidence for other companies planning to list.</p>
<p>Arm had secured a valuation of $54.5 billion on Wednesday after pricing its IPO at the top end of the marketed range. It fetched $4.87 billion for SoftBank, which still holds a 90.6% stake.</p>
<p>Below is a timeline of key events:</p>
<p>Date Development </p>
<p>July 17, 2016 SoftBank says it will buy Arm for $32 </p>
<p>billion in cash, taking it private </p>
<p>June 17, 2019 Nvidia (NASDAQ:) says it will make its chips work </p>
<p>with processors from Arm to build </p>
<p>supercomputers </p>
<p>July 22, 2020 Arm gathers takeover interest from </p>
<p>Nvidia, Bloomberg reports </p>
<p>Sept 12, 2020 Nvidia nears a deal to buy Arm from </p>
<p>SoftBank for more than $40 billion, </p>
<p>sources tell Reuters </p>
<p>Sept 13, 2020 Nvidia says it will buy Arm from SoftBank </p>
<p>for as much as $40 billion </p>
<p>Sept 14, 2020 British government says it will </p>
<p>scrutinize Nvidia’s deal to buy Arm, </p>
<p>including what it might mean for the </p>
<p>company’s headquarters in England </p>
<p>Sept 15, 2020 An op-ed in China’s state-backed Global </p>
<p>Times says Nvidia’s planned acquisition </p>
<p>of Arm from SoftBank was “disturbing” </p>
<p>Sept 21, 2020 Britain’s digital minister says assessing </p>
<p>the impact of the sale of Arm, including </p>
<p>commitments to keep its head office and </p>
<p>staff in Cambridge </p>
<p>Jan 6, 2021 Britain’s competition regulator says it </p>
<p>would start an investigation into </p>
<p>Nvidia’s deal to buy Arm </p>
<p>Feb 12, 2021 The U.S. Federal Trade Commission opens </p>
<p>an in-depth probe into Nvidia’s </p>
<p>agreement to acquire Arm, Bloomberg </p>
<p>reports </p>
<p>April 19, 2021 The UK government says it will look into </p>
<p>the national security implications of </p>
<p>Nvidia’s purchase of Arm </p>
<p>July 2, 2021 Arm CEO says deal with Nvidia is better </p>
<p>than becoming a standalone public company </p>
<p>once again </p>
<p>Aug 3, 2021 The UK government is considering blocking </p>
<p>the acquisition of Arm on potential </p>
<p>national security risks, Bloomberg News </p>
<p>reports </p>
<p>Aug 20, 2021 Nvidia deal for Arm hits a major hurdle </p>
<p>after a UK regulator finds it could </p>
<p>damage competition and weaken rivals, and </p>
<p>requires a further lengthy investigation </p>
<p>Aug 27, 2021 European Union is set to launch a formal </p>
<p>competition probe into Nvidia’s planned </p>
<p>takeover of Arm in early September, the </p>
<p>Financial Times reports </p>
<p>Oct 27, 2021 EU antitrust regulators open a four-month </p>
<p>long investigation into Nvidia’s bid for </p>
<p>Arm </p>
<p>Nov 16, 2021 Britain orders an in-depth investigation </p>
<p>of Nvidia’s deal for Arm </p>
<p>Dec 2, 2021 The U.S. FTC sues to block Nvidia’s deal </p>
<p>for Arm </p>
<p>Dec 6, 2021 U.S. FTC says competition in the nascent </p>
<p>markets for chips in self-driving cars </p>
<p>and a new category of networking chips </p>
<p>could be hurt if Nvidia carries out its </p>
<p>purchase of Arm </p>
<p>Feb 7, 2022 SoftBank shelves its blockbuster sale of </p>
<p>Arm to Nvidia, citing regulatory hurdles, </p>
<p>and will instead seek to list the company </p>
<p>June 22, 2022 British PM Boris Johnson’s spokesman says </p>
<p>he was not aware of any plans to try to </p>
<p>compel Arm to list in London after the </p>
<p>Financial Times reported that officials </p>
<p>were considering such a move </p>
<p>June 24, 2022 SoftBank founder and CEO Masayoshi Son </p>
<p>reiterates it was most likely to list Arm </p>
<p>on Nasdaq, while stressing no decision </p>
<p>has been made </p>
<p>March 5, 2023 Arm likely to aim to raise at least $8 </p>
<p>billion from what is expected to be a </p>
<p>blockbuster U.S. stock market launch this </p>
<p>year, sources tell Reuters </p>
<p>April 29, 2023 Reuters first reports, citing sources, </p>
<p>Arm has filed with regulators </p>
<p>confidentially for a U.S. stock market </p>
<p>listing </p>
<p>June 12, 2023 Arm is in talks with some of its biggest </p>
<p>customers and end-users about bringing on </p>
<p>one or more anchor investors, sources </p>
<p>tell Reuters. </p>
<p>Aug 8, 2023 Apple (NASDAQ:) and Samsung Electronics (KS:) will invest </p>
<p>in Arm at its IPO, expected in September, </p>
<p> newspaper reports </p>
<p>Aug 8, 2023 Reuters first reports Amazon.com (NASDAQ:) is in </p>
<p>talks about joining other technology </p>
<p>companies as a cornerstone investor in </p>
<p>IPO </p>
<p>Aug 13, 2023 Reuters first reports SoftBank is in </p>
<p>talks to acquire the 25% stake in Arm it </p>
<p>does not directly own from Vision Fund 1 </p>
<p>(VF1) </p>
<p>Aug 22, 2023 Arm’s annual revenue dropped 1% due to a </p>
<p>slowdown in smartphone sales, it </p>
<p>discloses in its paperwork for a U.S. IPO </p>
<p>Aug 23, 2023 Reuters first reports Arm has signed up </p>
<p>28 banks for its IPO without giving them </p>
<p>a fee arrangement </p>
<p>Aug 31, 2023 Arm plans to launch its roadshow for </p>
<p>investors after Labor Day, sources tell </p>
<p>Reuters </p>
<p>Sept 1, 2023 Reuters first reports customers of Arm </p>
<p>including Apple, Nvidia, Alphabet (NASDAQ:) and </p>
<p>Advanced Micro Devices (NASDAQ:) have agreed to </p>
<p>invest in IPO </p>
<p>Sept 1, 2023 Arm is targeting a valuation between $50 </p>
<p>billion and $55 billion for its </p>
<p>much-awaited IPO, sources tell Reuters </p>
<p>Sept 2, 2023 Reuters first reports Arm is planning to </p>
<p>ask investors to pay $47 to $51 for each </p>
<p>of its shares when it begins marketing </p>
<p>its IPO </p>
<p>Sept 5, 2023 SoftBank launches the roadshow for Arm’s </p>
<p>blockbuster IPO </p>
<p>Sept 8, 2023 Arm sees investor demand that is six </p>
<p>times the amount it is asking for its </p>
<p>shares, a source tells Reuters </p>
<p>Sept 10, 2023 Reuters first reports Arm is getting </p>
<p>close to securing enough investor support </p>
<p>to attain the fully diluted valuation of </p>
<p>$54.5 billion it was seeking in its IPO </p>
<p>at the top of its indicated range, and is </p>
<p>considering asking investors to value it </p>
<p>higher </p>
<p>Sept 12, 2023 Reuters first reports Arm received enough </p>
<p>backing from investors to secure at least </p>
<p>the top end of the price range in its </p>
<p>IPO, which would command a $54.5 billion </p>
<p>fully diluted valuation </p>
<p>Sept 13, 2023 Reuters first reports Arm has priced its </p>
<p>IPO at $51 apiece to raise $4.87 billion </p>
<p>Sept 13, 2023 Arm secures a $54.5 billion valuation in </p>
<p>its IPO </p>
<p>Arm </p>
<p>Sept 14, 2023 shares open </p>
<p>10% above their offer price </p>
<p>in their Nasdaq debut, giving the chip </p>
<p>designer a valuation of nearly $60 </p>
<p>billion </p>
</div>
<p><br />
<br /><a href="https://www.investing.com/news/stock-market-news/softbankbacked-arms-long-march-to-545-billion-us-listing-3174537">Source link </a></p><p>The post <a href="https://forextraderhub.com/softbank-backed-arms-long-march-to-nearly-60-billion-nasdaq-debut-by-reuters.html">SoftBank-backed Arm’s long march to nearly $60 billion Nasdaq debut By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>
Leave a Comment