TSMC plans to invest up to $100 million in Arm IPO

Posted by By News Room 1 Min Read

Taiwan Semiconductor Manufacturing Co. plans to invest up to US$100 million in Arm Holdings’ initial public offering.

TSMC
2330,
+2.23%

TSM,
+0.82%
said late Tuesday that its board approved the investment at a special meeting.

Arm and its underwriters are set to price the IPO on Wednesday following a week-long roadshow pitch to investors. Its American depositary shares are expected to start trading Thursday on the Nasdaq. The British chip designer is seeking a valuation of at least US$52 billion.

SoftBank Group
9984,
-0.75%,
which has owned Arm since 2016, is selling 95.5 million shares in the chip designer, or about 10% of the company. SoftBank expects to keep the remaining shares.

A number of Arm’s customers, including Nvidia
NVDA,
+1.37%,
Samsung Electronics
005930,
+1.13%
and Apple
AAPL,
-1.19%,
are showing support for the company by agreeing to buy shares in the IPO.

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