SoftBank Group Corp. backed chip maker Arm Ltd. is in discussion with potential investors which includes Intel Corp. to anchor what will be one of the largest initial public offerings of the year, as per sources familiar with the matter.
The sources also said that Arm also discussed with other companies regarding participating in the IPO. They added that the talks are in nascent stage and could still fall apart ahead of the listing. It’s also unclear how much would be invested in Arm or what the structure would be.
Arm is aiming to raise as much as $10 billion in its listing in New York later this year, as per a news report.
Bringing on an anchor investor in an IPO can help drum up interest and momentum, especially in a rough market for new listings. If the talks succeed, Intel would eventually be listed in Arm’s IPO prospectus ahead of the listing.
