The IPO was originally planned before March 2023.
(Photo: Bloomberg)
The resignations of Investment Secretary Gerry Grimstone and Digital Secretary Chris Philp following the collapse of Boris Johnson’s government in the UK have prompted tech investor SoftBank to pause talks of an ARM IPO, the Financial Times reported, citing insiders. Grimstone and Philps would have played a leading role in the talks. SoftBank could now also go the way of a simpler stock exchange listing in the USA, which the investor originally preferred, it said.
In mid-June it was said that the British arm could be valued at up to $ 60 billion in an IPO. The move is planned before March 2023. Originally, the Japanese Softbank had targeted an arm sale to the US graphics card specialist Nvidia for 80 billion dollars, but had failed.
Softbank bought Arm in 2016 for $32 billion and most recently said it would seek listings in the UK and US.