Connect with us

Business

SoftBank-Backed Chipmaker Files For 2023’s Biggest IPO

Published

on

SoftBank-Backed Chipmaker Files For 2023's Biggest IPO

(CTN News) – Arm Holdings’ Group, which is funded by SoftBank, announced today that it intends to float an initial public offering (IPO) in the United States, which is expected to be the biggest listing of the year since its annual revenue fell by 1%, which dampened the sales of smartphones.

In light of the recent market turmoil, many high-profile businesses have postponed their plans to list in the next few months because of an uncertainty in the IPO market, which has resulted in a sluggish IPO market.

As a result, the British company has SoftBank performed better than others during this time of crisis in the chip sector and is expanding into markets that are still thriving despite the crisis.

It is reported that Arm’s sales decreased to $2.68 billion for the fiscal year that ended on March 31, primarily due to a decline in global smartphone shipments for the quarter that ended on March 31. With sales of $675 million, there was a 2.5% decrease in sales for the quarter.

According to Arm’s most recent financial report, more than half of its royalty income was generated by consumer electronics and cell phones during the company’s most recent fiscal year.

As reported by Counterpoint Research, the global smartphone market is on pace to decline to its lowest level in a decade by the end of this year, according to the study.

Although Arm is heavily dependent on royalties from the mobile phone market, its revenues have only slightly decreased this year, which means that the prices of its chips per chip have increased over the last year.

It has not been disclosed by the company, whose chip technology is used to power the majority of smartphones and tablets in the world, including iPhones, how many shares it SoftBank plans to sell or what price it will seek for them.

As a joint venture between Acorn Computers, Apple, and VLSI Technology, Arm was founded in 1990 as a joint venture between three companies.

It was reported that the company was traded on the Nasdaq and the London Stock Exchange between 1998 and 2016, when SoftBank purchased the company for $32 billion.

SoftBank has started planning to list the company on the public market after a deal to sell Arm to Nvidia for $40 billion fell through last year due to concerns raised by US and European antitrust regulators about the deal.

SEE ALSO:

How To Create A Winning Call-to-Action (CTA) Strategy For Business Growth

Thailand’s Q2 Economic Growth At 1.8% Amid Export Challenges and Tourism Resilience

Continue Reading

CTN News App

CTN News App

české casino

Recent News

BUY FC 24 COINS

compras monedas fc 24

Volunteering at Soi Dog

Find a Job

Jooble jobs

Free ibomma Movies