SoftBank Group is expected to retain a controlling stake in Arm Ltd. after the planned IPO of the latter, as per sources. The sources mention that SoftBank decided that selling a smaller portion of Arm Ltd. now would be preferable, given the current slump in chip stocks, whilst providing the opportunity to get a higher valuation for the remainder later. SoftBank recently raised $8bn via a term loan secured against Arm’s shares. This is believed to have provided SoftBank with sufficient financial leeway to hold onto a larger portion of the semiconductor company and wait for better market conditions. The IPO is likely to take place in Q1 2023, they said, but the size and timing of the offering could change. As of end-March 2022, SoftBank was eyeing a valuation of $60bn for the IPO.

SoftBank’s USD 6% Perp was stable at 94.28, yielding 11.08%

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