Apple and Samsung plan to invest in SoftBank Group’s British chip design unit, Arm, which plans to float its shares in an initial public offering on the Nasdaq in September, reports Nikkei Asia.
The unit’s market capitalization by that time is expected to be more than US$60 billion, which would make the deal the world’s biggest initial public offering so far this year, the article adds. SoftBank will officially apply to the U.S. Securities and Exchange Commission for the listing later this month.
The Japanese firm, SoftBank, acquired British chip designer and major Apple partner ARM Holding, in 2016 for $31.4 billion. Apple’s own Apple Silicon chips are based on the ARM architecture.
Article provided with permission from AppleWorld.Today