Apple and Samsung Electronics will make investments in SoftBank Group-owned chip designer Arm during the company’s anticipated September initial public offering (IPO), according to a story published on Tuesday in Japan’s Nikkei newspaper.
To attract one or more anchor investors for the sale, Arm was reportedly in negotiations with about 10 businesses, including Apple, Samsung, and Intel, according to a June story from Reuters.
The U.S. chip manufacturer Nvidia was reportedly in negotiations with Arm last month to become an anchor investor for the New York listing, according to Reuters and other media.
As soon as Arm gets listed on the market, Apple, Samsung, Nvidia, and Intel all want to invest in it, according to the Nikkei. Later this month, the SoftBank-owned company will formally submit an application to the U.S. Securities and Exchange Commission for the listing, according to the newspaper.
According to the publication, Arm intends to sell “a few percent each” of the chipmakers’ interests.
SoftBank opted not to respond. A Reuters request for comment was not immediately answered by Apple, Nvidia, or Intel. Samsung did not immediately respond with a statement.
The long-awaited IPO is anticipated to be a financial boon for the sizable tech company headed by Softbank founder and CEO Masayoshi Son.
Since its agreement to sell the chip designer to Nvidia fell through last year because of concerns from antitrust authorities, SoftBank has been aiming for a listing for Arm.
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According to sources cited by Reuters in April, the anticipated U.S. offering may generate between $8 billion and $10 billion. No information on a listing date or fundraising target was disclosed by SoftBank’s chief financial officer at an earnings event on Tuesday, but he did say that things were “very smoothly” in preparation.
After its Vision Fund business went to the black for the first time in six quarters, SoftBank announced it was dipping its toes back into fresh investments on Tuesday despite posting an unexpected loss.
