British chip design titan, Arm, has unveiled plans to list on the US Nasdaq in what’s tipped to be 2023’s grandest stock market debut.
The move sidesteps the London Stock Exchange, where Arm was anchored for 18 years before SoftBank’s £32 billion takeover in 2016. That transaction, met with limited UK government oversight, stirred controversy, allowing the British tech firm to transition to foreign ownership.
Last week, SoftBank bolstered its Arm stake by 25%, setting its worth at an impressive £64 billion. The firm’s designs, foundational in devices from smartphones to drones, are licensed to various tech providers, including Apple and Nvidia.
Arm’s financial report showcased a consistent revenue of nearly £2.7 billion last fiscal year, coupled with a 96% gross profit margin.
With its technology embedded in over 30 billion chips last year, SoftBank anticipates a fruitful Arm listing.
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