From Reuters via Yahoo Finance, August 21:
SoftBank-owned chip designer Arm on Monday disclosed a modest 1% fall in annual revenue as it made public the paperwork for a U.S. listing that is expected to be the year's biggest initial public offering.
Arm's sales declined to $2.68 billion in the year ended March 31, hurt by a slump in global smartphone shipments. Sales for the quarter ended June 30 fell 2.5% to $675 million.
Its listing is expected to bring back to life a lackluster IPO market, which has over the last year seen some big startups hold back their listing plans due to market volatility and risk-off sentiment.
"We see a decent pipeline of pre-IPO companies sitting on the fence between a listing in 2023 or 2024. While Arm is a unique asset, its reception will tell us a lot about market sentiment," said Matthew Kennedy, analyst at IPO-research firm Renaissance Capital.
The company, whose chip technology powers most of smartphones including iPhones, did not reveal the number of shares it was selling and the pricing of its offering.
SoftBank is reportedly chasing a valuation of between $60 billion and $70 billion for the company in the IPO, which is expected in September....
....MUCH MORE
I don't think the anchor investors really care much about those revenue numbers.
The anchors include, Apple, Samsung, Intel and Nvidia.
