SoftBank could relist British chip designer ARM - Financial Times
Reuters
Published Mar 19, 2018 12:13
SoftBank could relist British chip designer ARM - Financial Times
(Reuters) - SoftBank Group Corp (T:9984) could relist ARM Holdings (LON:ARM), the British chip designer it bought two years ago, according to a senior executive at the Japanese conglomerate, the Financial Times reported on Monday.
Yoshimitsu Goto, a senior corporate officer at SoftBank, suggested to investors that an initial public offering could be a potential exit strategy for an investment fund that SoftBank launched last year, the FT reported.
The $93 billion Vision Fund, backed by Saudi Arabia's main sovereign wealth fund and companies including Apple (O:AAPL) and Qualcomm (O:QCOM), is set to acquire a 25 percent stake in ARM, the report added.
SoftBank did not immediately respond to Reuters' request for comment.
SoftBank is looking to optimise its investment in ARM, which it acquired for $32 billion in 2016, and take some cash out, Reuters Loan Pricing Corp (LPC) reported earlier this month.
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Written By: Reuters
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