Goldman Sachs poised to lead US IPO of SoftBank portfolio Arm

FILE PHOTO: Japan's SoftBank Group Corp Chief Executive Masayoshi Son bows his head after his presentation at a news conference in Tokyo, Japan, Nov. 5, 2018. REUTERS/Kim Kyung-Hoon/File Photo

SoftBank Group Corp is planning to pick Goldman Sachs Group Inc as the lead underwriter on the initial public offering of Arm Ltd that could value the British chip designing company at as much as $60 billion, according to three people familiar with the matter.

The IPO preparations come after SoftBank’s deal to sell Arm to Nvidia Corp for $40 billion collapsed last month because of objections from U.S. and European antitrust regulators. SoftBank has said it will now likely list Arm on Nasdaq by March 2023.

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