Salem Radio Network News Saturday, September 30, 2023


SoftBank’s Arm starts IPO roadshow in Baltimore to court T Rowe Price

By Echo Wang and Anirban Sen

NEW YORK (Reuters) – Arm Holdings Ltd, the chip designer owned by SoftBank Group Corp, began its marketing roadshow for its blockbuster initial public offering on Tuesday in Baltimore, where T Rowe Price is headquartered, underscoring the fund manager’s significance as a potential investor.

Arm is also meeting with other potential investors, including Arlington, Virginia-based Sands Capital, in Baltimore on Tuesday, the sources said.

The chip designer is expected to meet with other investors in cities including New York in the days leading up to the pricing of its IPO on September 13, the sources said.

Arm declined to comment. T Rowe Price and Sands Capital did not immediately respond to requests for comments.

Earlier on Tuesday, Arm said it would seek to raise about $4.9 billion at a valuation of more than $52 billion from its IPO, which is expected to be the biggest stock market flotation of the year.

(Reporting by Echo Wang and Anirban Sen in New York; Editing by Nick Zieminski)


Editorial Cartoons

View More »

Steve Breen
Fri, Sep 22, 2023