Dow Jones Newswires: TSMC plans to invest up to $100 million in Arm IPO

By / / Finance / 1 minute of reading


Taiwan Semiconductor Manufacturing Co. plans to invest up to US$100 million in Arm Holdings’ initial public offering.

TSMC
2330,
-0.55%

TSM,
+0.98%
said late Tuesday that its board approved the investment at a special meeting.

Arm and its underwriters are set to price the IPO on Wednesday following a week-long roadshow pitch to investors. Its American depositary shares are expected to start trading Thursday on the Nasdaq. The British chip designer is seeking a valuation of at least US$52 billion.

SoftBank Group
9984,
-1.36%,
which has owned Arm since 2016, is selling 95.5 million shares in the chip designer, or about 10% of the company. SoftBank expects to keep the remaining shares.

A number of Arm’s customers, including Nvidia
NVDA,
-0.68%,
Samsung Electronics
005930,
+0.71%
and Apple
AAPL,
-1.71%,
are showing support for the company by agreeing to buy shares in the IPO.



Source link

About The Author

Avatar of Amanda Pierce
Amanda Pierce is a writer who has covered sports, education, and tech for Highland Loch Press. She also writes about her hobbies—which include hiking, traveling to new places, and cooking.
Scroll to Top