March 19, 2018 / 12:22 PM / in 8 months

SoftBank could relist British chip designer ARM: FT

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato

(Reuters) - SoftBank Group Corp could relist ARM Holdings, the British chip designer it bought two years ago, according to a senior executive at the Japanese conglomerate, the Financial Times reported on Monday.

Yoshimitsu Goto, a senior corporate officer at SoftBank, suggested to investors that an initial public offering could be a potential exit strategy for an investment fund that SoftBank launched last year, the FT reported.

The $93 billion Vision Fund, backed by Saudi Arabia’s main sovereign wealth fund and companies including Apple and Qualcomm, is set to acquire a 25 percent stake in ARM, the report added.

SoftBank did not immediately respond to Reuters’ request for comment.

SoftBank is looking to optimise its investment in ARM, which it acquired for $32 billion in 2016, and take some cash out, Reuters Loan Pricing Corp (LPC) reported earlier this month.

Reporting by Tamara Mathias in Bengaluru; Editing by Sai Sachin Ravikumar

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