It feels strange to call it in "Initial Public Offering" when the company used to be public ten years ago.
Arm Announces Public Filing for Proposed Initial Public Offering
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Re: Arm Announces Public Filing for Proposed Initial Public Offering
#42Bit of a downer for the UK to see them list in the US, I do understand they just want access to the most capital, but I find a shame LSE is not competitive for this kind of thing.
> Bit of a downer for the UK to see them list in the US I wonder to what extent the overarching business culture of the UK (which I'd categorise as being generally apathetical, if not hostile, to the engineering profession) might have anything to do with it. (...speaking as a former UK eng myself)
The City is struggling post-Brexit
Re: Arm Announces Public Filing for Proposed Initial Public Offering
#43F-1: https://www.sec.gov/Archives/edgar/data/1973239/000119312523...
Total revenue: 2.679bb Gross profit: 2.573bb (page 18, FY2023) 96% gross profit margin? Ahh to be an IP licensing company....why would anyone invest in building physical things when there are opportunities like this out there! edit: clarify gross profit margin
Small correction:
Net income: 0.524 bb
So 19.6% profit margin. Still nice.
Re: Arm Announces Public Filing for Proposed Initial Public Offering
#44Bit of a downer for the UK to see them list in the US, I do understand they just want access to the most capital, but I find a shame LSE is not competitive for this kind of thing.
> Bit of a downer for the UK to see them list in the US I wonder to what extent the overarching business culture of the UK (which I'd categorise as being generally apathetical, if not hostile, to the engineering profession) might have anything to do with it. (...speaking as a former UK eng myself)
More likely there is just more capital available in the US markets - the Arm listing won't be small.
A lot of US funds have restrictions as to how much they can invest outside the US.
Re: Arm Announces Public Filing for Proposed Initial Public Offering
#45Earlier quoted context omitted.
> Bit of a downer for the UK to see them list in the US I wonder to what extent the overarching business culture of the UK (which I'd categorise as being generally apathetical, if not hostile, to the engineering profession) might have anything to do with it. (...speaking as a former UK eng myself)
> which I'd categorise as being generally apathetical, if not hostile, to the engineering profession Any chance you could elaborate on this? Arm exists and is British, after all.
The UK has a long intellectual tradition which creates a steady stream of creative and capable engineers. Capital however is predominately held via inherited wealth and its controllers want rentier incomes with low risk. As a consequence there is low appetite for risky new ventures and those that want to undertake them mostly migrate elsewhere. What's left is a stock market dominated by octogenarian+ dianosaurs, a decaying rump of manufacturing, a finance sector that mostly makes its bread laundering the capital of the world's corrupt and corruptors and a tiny creative industry that clings on despite suffering through waves of either government neglect, or worse yet, government interest.
Re: Arm Announces Public Filing for Proposed Initial Public Offering
#46It feels strange to call it in "Initial Public Offering" when the company used to be public ten years ago.
Should it be an APO? Additional Public Offering?
Re: Arm Announces Public Filing for Proposed Initial Public Offering
#47Earlier quoted context omitted.
> which I'd categorise as being generally apathetical, if not hostile, to the engineering profession Any chance you could elaborate on this? Arm exists and is British, after all.
UK engineering jobs typically have uncompetitive compensation.
That's just the result, not the cause.
Re: Arm Announces Public Filing for Proposed Initial Public Offering
#48F-1: https://www.sec.gov/Archives/edgar/data/1973239/000119312523...
The "risks" section is pretty interesting, e.g.:
"Arm China is 25% of our revenue, but we have no control over them, they have failed to pay us in the past resulting in us taking on additional costs to recover the money, also we have no way of knowing what they actually owe us and other than what they say, which has already been a problem"