www.reuters.com, Mar. 30, 2022 –
March 30 (Reuters) - UK's Arm Ltd is planning to transfer shares in its Chinese joint venture to a SoftBank Group (9984.T) special purpose vehicle to speed up its initial public offering plans, The Financial Times reported on Wednesday, citing people familiar the matter.
The share transfer, if successful, will leave the joint venture tied to Arm headquarters through a licensing agreement, instead of the 47.3% equity stake it holds today, the report said.
The chip designing company will continue to get licensing revenues from Arm China but will not need to audit the unit's financials, the report also said.
Arm declined to comment, while SoftBank was not immediately available to respond to Reuters' queries.