Softbank is said to be looking to raise $8-10 billion but has not disclosed how many Arm shares it will be selling or the valuation it is looking for.
However it has issued a statement that it “intends that Arm will continue to be a consolidated subsidiary of SBG (Softbank) following the completion of the proposed initial public offering.”
Estimates of Arm’s value are as wide as $30-60 billion. A bid worth $66 billion from Nvidia was stymied by regulators last year.
Softbank, with debts of around $170 billion, is keen to get as much as possible from the offer.
The IPO market is not in great shape. EY (Ernst & Young) says Q1 saw the number of public offers fall 8% y-o-y and the amount raised fell 61% after a 45% drop in public offers last year
Goldman Sachs, JP Morgan, Mizuho and Barclays are leading the listing
Filing on LSE would expose ARM to excess profit taxes and confiscation of all dividends to foreigners to pay UK taxes.