SoftBank boss Masayoshi Son has been pushing for an IPO of Arm after Nvidia abandoned a takeover earlier this year. The downturn in chip sales and choppy markets mean he would be wiser to wait, writes KarenKKwok
SoftBank has borrowed against its Arm shares. However, credit analysts at S&P Global reckon the company has enough cash to repay corporate bonds maturing in the next two years. That gives SoftBank some time for Arm’s push into other semiconductor markets such as autonomous vehicles to bear fruit. In the meantime, the best IPO destination is nowhere.
Son, who was making his first visit to Seoul in three years, said earlier that he’d like to talk with Samsung about a “strategic alliance with Arm”, which the Japanese company bought in 2016. At SoftBank’s annual shareholder meeting in Tokyo on June 24, Son said that the company was most likely to list Arm on the Nasdaq exchange, while stressing it had not decided. Son said there were also requests to list Arm in London without elaborating on where they came from.Editing by Peter Thal Larsen and Oliver Taslic
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