Goldman Sachs may act as lead underwriter for Arm’s U.S. IPO

According to the latest report, people familiar with the matter as saying that SoftBank plans to choose Goldman Sachs Group as the lead underwriter for Arm’s initial public offering, which may value the British chip design company at as much as $60 billion.

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SoftBank previously said that after Nvidia’s failed acquisition of Arm, the group plans to complete Arm’s listing on Nasdaq by March 2023. SoftBank has approached several investment banks over the past few weeks about the IPO.

Moreover, asking them to commit to a line of credit, sources told Reuters, and it was previously reported to be seeking $8 billion in margin loans for Arm stock offerings. However, the sources, who asked not to be named, also warned that SoftBank’s listing plans remain uncertain.

SoftBank, Arm, and Goldman Sachs declined to comment on the matter. Arm’s revenue surged 40% to $2 billion in the nine months to December on strong demand, according to data released by SoftBank. SoftBank founder Masayoshi Son said last month, “We are targeting the largest IPO in semiconductor history”

(via)