TECH - Betting Big: SoftBank Consolidates ARM Ownership Before Mega $54.5B IPO | Benzinga
ARM Holdings PLC (NASDAQ: ARM) launched its initial public offering (IPO) Thursday, with a valuation of $54.5 billion, marking the biggest IPO of 2023.
SoftBank Group Corp - ADR (OTC: SFTBY), which acquired ARM in 2016 for $32 billion, is retaining 90% ownership and is offering 10% of the company on the open market at $51 per share.
However, there's more to the story. SoftBank, previously owning 75% of the company, acquired the remaining 25% to consolidate its ownership at 100% before the IPO. ...