UK-based chip design Arm Holdings has been valued at US$54.5 billion (AU$54.5 billion) before it lists on the Nasdaq, with shares priced at $51 each.
Arm is set to be the biggest initial public offering (IPO) of 2023. Arm is owned by Japanese conglomerate SoftBank Group and the IPO has already raised some AU$7.56 billion for the group.
Arm customers, including Apple, Google, Nvidia, Alphabet, Advanced Micro Devices, Intel and Samsung have all said they would invest in the IPO. The company estimates that 70 per cent of the world’s population relies on its chips, including nearly all of the world’s smartphones.
Softbank, which faced big losses on investments such as co-working firm WeWork, had previously explored selling Arm to Nvidia in a deal worth about $40 billion (AU$62 billion). That effort was dropped in 2022 after authorities raised competition concerns.
It could prove to be one of the most important and lucrative stock listings in a number of years.
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