(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 IPO has resulted in a sluggish IPO market.in the
As a result, the British company has SoftBank performed better than others duringis 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 Marchprimarily due to a decline in global smartphone shipments for the quarter that ended on March 31. With sales of $675 million, 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 thisaccording to the study.
Although Arm is heavily dependent on royalties from the mobile phone market, its revenues have only slightly decreased thismeans that the prices of its chips per chip have increased over the last year.
It has not been disclosed by the company, whose chip technologythe majority of smartphones and tablets in the world, including 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 tofor $40 billion fell through last year due to concerns raised by US and European antitrust regulators about the deal.