March 19, 2018 / 12:22 PM / 6 months ago

SoftBank could relist British chip designer ARM: FT

(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.

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

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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