SoftBank Plans to Retain Controlling Stake in Arm After IPO

SoftBank Group Corp.expects to retain a controlling stake in Arm Ltd.after the planned initial public offering of the chip business, selling a smaller portion than originally expected, according to people familiar with the matter.

SoftBank opted for an IPO of Arm, which it acquired in 2016, after a plan to sell the business to Nvidia Corp. collapsed earlier this year. SoftBank has decided that selling a smaller portion of Arm now, given the current slump in chip stocks, provides the opportunity to get a higher valuation for the remainder later, according to one of the people, who asked ...