Thursday, September 21, 2023

Technology company Arm files to go public on the Nasdaq in New York

The British technological Armowned by the Japanese conglomerate Softbank, requested to go public on the Nasdaq index in New York on Monday, according to a document delivered to the US Securities and Exchange Commission (SEC, for its acronym in English).

Arm, whose microchips are used in millions of smart phonesdid not disclose the conditions of its listing in that document, but according to specialized media it considers September as the exit date and its objective is to raise between US$60,000 and US$70,000 million in the operation.

Softbank bought Arm in 2016 for about $32 billionwhich implied its going public, and in 2020 it agreed to sell it to the American Nvidia for about US$40,000 million, but that operation was canceled last year after the objections of regulators and its competitors.

At the beginning of 2023, it transpired that soft bank He considered listing in the US as the best opportunity to recover his investment in the purchase of Arm, given the higher valuation that US investors give to stocks in the technology sector.

According to Arm’s document to the SEC, in the fiscal year ended March 31 the company had a net profit of US$524 million and a turnover of US$2,679 million.

In the most recent quarter, its profit was $105 million, less than half the same period last year.


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