SAN FRANCISCO: SoftBank Group Corp’s Arm Holdings Ltd reported a 1% fall in annual revenue due to a slowdown in smartphone sales, after the chip designer disclosed the paperwork for an initial public offering (IPO) that is expected to be the largest of the year.
Arm’s stock market launch is expected to bring back to life a lacklustre IPO market, which has over the last year seen several high-profile startups postpone their listing plans due to market volatility.
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