SoftBank’s Arm Targets T. Rowe Price, Other Investors in IPO Roadshow

On Tuesday, SoftBank Group’s chip design subsidiary, Arm Holdings Ltd, initiated its promotional campaign for its forthcoming IPO in Baltimore, emphasizing the importance of asset management giant T. Rowe Price as a likely significant investor.

Concurrently, Arm is in talks with other potential backers, such as Virginia-based Sands Capital, insiders revealed. Before the company sets its IPO price on September 13, it plans to court other investors in multiple cities, including New York.

Neither Arm nor T. Rowe Price offered comments when reached, and Sands Capital has yet to issue a response.

Earlier that day, Arm announced its aim to secure roughly $4.9 billion with a valuation topping $52 billion in its upcoming IPO, positioning it as potentially the year’s most significant stock market introduction. Established clients like Apple, Nvidia, Alphabet, Advanced Micro Devices, Intel, and Samsung Electronics are already onboard as IPO participants.

Additionally, cornerstone backers have signaled a combined interest in acquiring around $735 million of the available American Depositary Shares (ADS).