The IPOX® Update 8/2/23

SoftBank's Arm Targets Record-breaking September IPO

Arm, the semiconductor unit of Japanese multinational conglomerate SoftBank, is aiming for a potentially record-breaking IPO in September. The chip design firm is seeking a valuation in the range of $60-$70 billion, which could potentially rise to $80 billion. In what promises to be a significant tech debut, Arm could raise up to $10 billion in its initial public offering. This could make it the largest tech IPO since Alibaba and Meta, formerly Facebook, in 2014 and 2012 respectively. Tech giants Nvidia and Intel are reported to be in discussions to become anchor investors in the UK-based firm. Arm's technology plays a pivotal role in AI chips, smartphones, and cloud computing, making it a leading player in the global tech scene (Source).

Dubai's RTA Selects Banks for Taxi and Parking IPOs

Dubai’s Roads & Transport Authority (RTA) is preparing to enter the IPO market with its taxi and parking divisions. It has selected Emirates NBD Capital, Bank of America, and Citigroup as advisors for its taxi business listing, with HSBC and Goldman Sachs consulting on the parking division IPO. RTA is targeting a listing for its taxi business within this year, with the parking division following next year. Although specifics regarding the IPOs have not been disclosed, the move marks a significant step for the transportation sector in the United Arab Emirates (Source).

Oldenburgische Landesbank Affirms Readiness for Potential IPO

German bank Oldenburgische Landesbank (OLB) has signaled its readiness for a potential IPO after reporting a half-yearly profit above €100 million for the first time. The decision regarding the IPO lies with the bank's owners, primarily Apollo Global Management, Teacher Retirement System of Texas, and Grovepoint. The bank's robust performance, reportedly demonstrated by its improved cost-income ratio and a post-tax profit of €104.8 million for the first half-year, underpins its readiness for a public listing. The bank's CEO, Stefan Barth, has also indicated the potential for further deals following the acquisition of Degussa Bank. (Source)

South Korean Steelmaker Nexteel Sets IPO to Bolster Competitiveness

Nexteel, a South Korean manufacturer of oil pipelines and tubular goods, is planning to bolster its competitiveness via upcoming IPO. The company aims to raise up to 87.5 billion won ($67.6 million) from the IPO, slated for August 21. The proceeds will fund business expansion, including the establishment of a US subsidiary and entry into new markets. The firm's post-IPO estimated market value could reach up to 325 billion won. Hana Securities is leading the IPO, with share prices ranging between 11,500 to 12,500 won. Nexteel's commitment to technology development underlines its mission to innovate within its industry. The public subscription is scheduled for next week, following a demand forecast session for institutional investors (Source).

Spain's Bergé Plans IPO for Car Unit Astara with Lazard

Spanish industrial group Bergé is exploring an initial public offering (IPO) for its car unit Astara, with Lazard serving as an advisor. The potential IPO, slated for 2024, could involve selling between 25% and 49% of Astara, with the firm's owners Bergé (75% stake) and Mitsubishi Corporation (25% stake) planning to sell portions of their shares. Astara, focused on car distribution and mobility services, could be valued at €2 billion. Bergé aims to retain majority control of Astara, ensuring that the IPO will not exceed 49% of ownership. Astara operates in 19 countries, sells over 200,000 cars annually, and employs over 2,500 people, indicating its robust footprint in the automotive market. The IPO plans are still in the initial stages, with financial viability under review (Source).