Did SoftBank’s Arm Have The Biggest IPO Of 2023?

Did SoftBank’s Arm Have The Biggest IPO Of 2023?

SoftBank’s Arm Holdings is all set to go public by this year. The IPO will also mark USA’s biggest IPO of 2023. The company filed for IPO on Monday, and its offering is being led by Barclays Plc, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Mizuho Financial Group Inc

SoftBank Group Corp.’s Arm Holdings Ltd. took a step toward what’s set to become the biggest US initial public offering of the year, a bet that the once-obscure designer of phone chips can flourish in the era of artificial intelligence computing.

In a long-awaited regulatory filing Monday, Arm said the offering is being led by Barclays Plc, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Mizuho Financial Group Inc. The document listed 24 other underwriters below that top tier — with Morgan Stanley notably absent. 

A successful debut by Arm would provide a windfall for SoftBank founder Masayoshi Son, whose Vision Fund lost a record $30 billion last year. It could also spur dozens of startups to pursue — or further delay — their own IPO plans. That includes companies like online grocery-delivery firm Instacart Inc. and marketing and data automation provider Klaviyo.

Arm plans to start its roadshow the first week of September and price the IPO the following week, Bloomberg has reported. Arm didn’t disclose proposed terms for the share sale in the document, but it’s expected to seek a valuation of $60 billion to $70 billion.

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