Sept 14 (Reuters) - Arm Holdings secured a $54.5 billion valuation in its U.S. initial public offering (IPO) on Wednesday, seven years after its owner SoftBank Group took the chip designer private for $32 billion. The Japanese investment giant sold 95.5 million American Depositary shares of Arm at $51 apiece to raise $4.87 billion in the listing. Last month, SoftBank signed a deal to buy the 25% stake it did not already own in Arm from its $100 billion Vision Fund, enabling it to sell fewer Arm shares in the IPO. Below is a timeline of key events: Date Development July 17, 2016 SoftBank says it will buy Arm for $32 billion in cash, taking it private June 17, 2019 Nvidia says it will make its chips work with processors from Arm to build supercomputers July 22, 2020 Arm gathers takeover interest from Nvidia, Bloomberg reports Sept 12, 2020 Nvidia nears a deal to buy Arm from SoftBank for more than $40 billion, sources tell Reuters Sept 13, 2020 Nvidia says it will buy Arm from SoftBank for as much as $40 billion Sept 14, 2020 British government says it will scrutinize Nvidia's deal to buy Arm, including what it might mean for the company's headquarters in England Sept 15, 2020 An op-ed in China's state-backed Global Times says Nvidia's planned acquisition of Arm from SoftBank was "disturbing" Sept 21, 2020 Britain's digital minister says assessing the impact of the sale of Arm, including commitments to keep its head office and staff in Cambridge Jan 6, 2021 Britain's competition regulator says it would start an investigation into Nvidia's deal to buy Arm Feb 12, 2021 The U.S. Federal Trade Commission opens an in-depth probe into Nvidia's agreement to acquire Arm, Bloomberg reports April 19, 2021 The UK government says it will look into the national security implications of Nvidia's purchase of Arm July 2, 2021 Arm CEO says deal with Nvidia is better than becoming a standalone public company once again Aug 3, 2021 The UK government is considering blocking the acquisition of Arm on potential national security risks, Bloomberg News reports Aug 20, 2021 Nvidia deal for Arm hits a major hurdle after a UK regulator finds it could damage competition and weaken rivals, and requires a further lengthy investigation Aug 27, 2021 European Union is set to launch a formal competition probe into Nvidia's planned takeover of Arm in early September, the Financial Times reports Oct 27, 2021 EU antitrust regulators open a four-month long investigation into Nvidia's bid for Arm Nov 16, 2021 Britain orders an in-depth investigation of Nvidia's deal for Arm Dec 2, 2021 The U.S. FTC sues to block Nvidia's deal for Arm Dec 6, 2021 U.S. FTC says competition in the nascent markets for chips in self-driving cars and a new category of networking chips could be hurt if Nvidia carries out its purchase of Arm Feb 7, 2022 SoftBank shelves its blockbuster sale of Arm to Nvidia, citing regulatory hurdles, and will instead seek to list the company June 22, 2022 British PM Boris Johnson's spokesman says he was not aware of any plans to try to compel Arm to list in London after the Financial Times reported that officials were considering such a move June 24, 2022 SoftBank founder and CEO Masayoshi Son reiterates it was most likely to list Arm on Nasdaq, while stressing no decision has been made March 5, 2023 Arm likely to aim to raise at least $8 billion from what is expected to be a blockbuster U.S. stock market launch this year, sources tell Reuters April 29, 2023 Reuters first reports, citing sources, Arm has filed with regulators confidentially for a U.S. stock market listing June 12, 2023 Arm is in talks with some of its biggest customers and end-users about bringing on one or more anchor investors, sources tell Reuters. Aug 8, 2023 Apple and Samsung Electronics will invest in Arm at its IPO, expected in September, Japan's Nikkei newspaper reports Aug 8, 2023 Reuters first reports Amazon.com is in talks about joining other technology companies as a cornerstone investor in IPO Aug 13, 2023 Reuters first reports SoftBank is in talks to acquire the 25% stake in Arm it does not directly own from Vision Fund 1 (VF1) Aug 22, 2023 Arm's annual revenue dropped 1% due to a slowdown in smartphone sales, it discloses in its paperwork for a U.S. IPO Aug 23, 2023 Reuters first reports Arm has signed up 28 banks for its IPO without giving them a fee arrangement Aug 31, 2023 Arm plans to launch its roadshow for investors after Labor Day, sources tell Reuters Sept 1, 2023 Reuters first reports customers of Arm including Apple, Nvidia, Alphabet and Advanced Micro Devices have agreed to invest in IPO Sept 1, 2023 Arm is targeting a valuation between $50 billion and $55 billion for its much-awaited IPO, sources tell Reuters Sept 2, 2023 Reuters first reports Arm is planning to ask investors to pay $47 to $51 for each of its shares when it begins marketing its IPO Sept 5, 2023 SoftBank launches the roadshow for Arm's blockbuster IPO Sept 8, 2023 Arm sees investor demand that is six times the amount it is asking for its shares, a source tells Reuters Sept 10, 2023 Reuters first reports Arm is getting close to securing enough investor support to attain the fully diluted valuation of $54.5 billion it was seeking in its IPO at the top of its indicated range, and is considering asking investors to value it higher Sept 12, 2023 Reuters first reports Arm received enough backing from investors to secure at least the top end of the price range in its IPO, which would command a $54.5 billion fully diluted valuation Sept 13, 2023 Reuters first reports Arm has priced its IPO at $51 apiece to raise $4.87 billion Sept 13, 2023 Arm secures a $54.5 billion valuation in its IPO (Reporting by Manya Saini in Bengaluru; Editing by Janane Venkatraman and Maju Samuel)
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