ARM said to be planning IPO on mainland market
ARM’s Chinese joint venture, which recently started operation, plans to launch an initial public offering in the domestic market, media reported today.
The Shenzhen-based joint venture, ARM mini China, is 49 percent owned by ARM and 51 percent owned by a fund with Chinese investors. The IPO is seen as a key localized step for ARM, the world’s top chip designer, in China.
ARM is seeking the domestic IPO through JV that is expected to get a special express pass for listing, Japanese media reported, citing sources familiar with the issue.
Both ARM and Softbank were unavailable to comment on the issue today.
The JV licenses technologies to firms including Apple, Qualcomm and Samsung. UK-based ARM was acquired by Japan-based Softbank for US$31 billion in 2016.
Sales of chips with ARM-licensed technologies jumped 110 times in the past decade in China, according to ARM’s statement.
ARM aims to expand its business from smartphones to intelligent devices that adopt Internet of Things technology. China is one of the biggest IoT device markets globally.