SoftBank’s subsidiary debuts successfully, expects $5.12b in proceeds

It also includes the full exercise of the underwriters' option to purchase an additional seven million shares.

Last 18 September, SoftBank’s subsidiary has successfully completed its initial public offering (IPO) of 102.5 million American depository shares (ADS) worth $51.00 apiece, the company said in a local bourse filing.

On top of Arm Holding’s offering is the full exercise of the underwriters’ option to buy an additional 7.0 million ADSs. These ADSs began trading on the Nasdaq Global Select Market under the ticker symbol "ARM" on September 14, 2023. All the ADSs in the IPO were sold by Kronos II, a subsidiary of SoftBank.

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SoftBank expects to receive $5.12b in proceeds from the disposal of these ADSs within the six-month period ending 30 September, after accounting for underwriting discounts and commissions but before expenses.

Importantly, as Arm remains a subsidiary of SBG, any gain from this disposal will not be reflected in SBG's consolidated statement of profit or loss; instead, it will be recorded as capital surplus on the consolidated statement of financial position.

The IPO was executed following the effective registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) last 13 September.

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