springboard The British company, which has eclipsed Intel in smartphone chips, will represent a real test for Wall Street, after 18 months of hibernation of IPOs
Chips based on ARM architecture are at the heart of all smartphones, including Apple iPhones. — Richard Drew/AP/SIPA
Models of its processors can be found in 99% of smartphones. British electronic chip designer Arm is targeting a valuation close to $52 billion for its debut on Thursday. the New York Stock Exchange, the biggest IPO in almost two years, according to the price set by the company. Wednesday for its action.
This is the largest IPO in the world since November 2021 and the arrival at Wall Street of the electric vehicle manufacturer Rivian, valued at 77 billion dollars, the time.
This price corresponds to the top of the range initially established by Arm, between 47 and 51 dollars, which testifies to a sustained appetite from investors. The operation was carried out initiated by the company Japanese investment company SoftBank Group, majority shareholder, which will sell, on the market, around 10% of the capital of the technological flagship of Cambridge (England).
Capital gain for Softbank
The valuation of Arm is significantly higher than the 32 billion paid by the Japanese to take control of Arm in July 2016, but lower than the 60 billion paid by the Japanese to take control of Arm in July 2016. 70 billion dollars that SoftBank was targeting just a few weeks ago, according to several media.
The success of the introduction of Arm would constitute a form of redemption for the boss and founder of SoftBank, Masayoshi Son, who has mainly been talked about in recent years for his colossal losses recorded
SoftBank notably suffered several billion dollars in capital losses on its stakes in the fallen king of shared offices WeWork as well as on the capital of the giant Chinese online retailer Alibaba.
The first day of trading, Thursday, will be closely followed, as it is often considered a crucial indicator of stock quality. of an « IPO » (initial public offering or entry into the stock market).
The baptism of fire of the British technological flagship is also a life-size test for the market. of IPOs, in hibernation for more than 18 months, leadé by the monetary tightening of central banks and the tightening of credit conditions. We have to go back to 1990 to find figures lower than that. those of the 2022 vintage.
Are already available. announced on the New York square, behind Arm, the shopping delivery platform Instacart, the online marketing specialist Klaviyo, as well as the manufacturer of the famous Birkenstock sandals, whose file has officially been deposited Tuesday.