SoftBank to unveil Arm IPO plans for biggest U.S. listing since 2021

SoftBank Group is expected to reveal details of the planned listing of chip designer Arm Holdings, which will be traded on the Nasdaq, later on Monday in what will likely be the biggest initial public offering in three years.

SoftBank, which failed to complete a $40 billion sale of the U.K-based chipmaker to Nvidia  (NVDA) - Get Free Report last year amid pushback from competition authorities in the U.S. and Europe, nonetheless spurned the British government in March by opting to pursue a U.S.-only listing.

Reuters reported last week that SoftBank arranged to buy the 25% stake that it didn't directly own from its Vision Fund in a deal that valued the whole of Arm at around $64 billion. 

Arm was originally set to raise around $8 billion to $10 billion from the share sale, according to media reports, but the Vision Fund deal would reduce that amount - and Arm won't be compelled to nail down size and pricing with the Securities & Exchange Commission until closer to the listing date

Still, analysts expect the Arm IPO to be the biggest on a U.S. exchange since the $13.7 billion Rivian Automotive RIVN listing in November of 2021.

London's Financial Times has reported Nvidia is being asked to take a long-term stake in Arm, alongside U.S. rival Intel  (INTC) - Get Free Report, that could be valued in the region of $35 billion to $40 billion. 

Cambridge, U.K.-based Arm is also expected to report full year financials, based on the 12 months ending in March, as part of its SEC filing, with reports suggesting a revenue tally of around $2.7 billion.