SOFTBANK CP UNSP ADR (SFTBY), SOFTBANK CORP ORD (SFTBF) – SoftBank seeks to list Arm in the United States, abandoning its home market

  • SoftBank Corp Group (OTC:SFTBY) (OTC:SFTBF) CEO Masayoshi Son is seeking to list British chip designer Arm Ltd in the US, avoiding its home market, CNBC reports.
  • Son is aiming for a “big IPO” and seeks to publicly list Arm on the technology-focused Nasdaq stock market in the fiscal year ending March 31, 2023.
  • About 95% of the world’s smartphones use Arm’s energy-efficient chip architectures.
  • Related Content: SoftBank targets Arm IPO after Nvidia scraps takeover plans
  • NVIDIA Corp. (NASDAQ: NVDA) recently dropped plans to acquire Arm amid regulatory opposition.
  • Hussein Kanji, a venture capitalist at Hoxton Ventures in London, considers it “irrational” for SoftBank to prioritize a UK listing over a US listing.
  • “There is no upside to being listed in the UK and enough downsides,” he said, pointing to the lack of research, low valuations and the press. “You need to have pros and cons to convince people to change.”
  • Arm could also go for a double listing again.
  • “We’re in the middle of a blizzard,” Son said. “The market environment is difficult. The long-term interest rate is rising. The monetary policy of governments is changing around the world. So high-growth companies are affected by the stock market situation. But the AI ​​revolution keep growing. Great time. So we’re thrilled.”
  • Price Action: NVDA shares traded up 2.51% at $257.38 in the last check premarket session on Wednesday.