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Toyota responds to continued production cuts in the next 3 months: easing pressure on dealer earnings

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MediaTek invested $25 million and subscribed for 0.05% of Arm’s shares

Chip design maker MediaTek released an announcement this evening, saying that its subsidiary Gaintech Co. Limited invested in SoftBank Group’s chip design company Arm American Depositary Receipts (ADSs), the amount of the investment is 25 million U.S. dollars (the current amount is about RMB 182 million), to obtain Arm 0.05% of the shares. MediaTek said the two sides are long-term partners.

Arm priced its initial public offering (IPO) Wednesday at $51 per share, at the high end of its target price range, which would give it a fully diluted market capitalization of more than $54 billion, including restricted stock outstanding. Based on last fiscal year’s profit of $524 million, its price-to-earnings ratio is about 104 times.

It is reported that Arm’s customers Apple, NVIDIA and AMD have agreed to invest. In addition, TSMC, a leading foundry, has resolved to subscribe to Arm’s ordinary shares with a shareholding of about 0.2% within an amount not exceeding $100 million.

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Threza Gabriel
Threza Gabrielhttps://www.techgoing.com
Threza Gabriel is a news writer at TechGoing. TechGoing is a global tech media to brings you the latest technology stories, including smartphones, electric vehicles, smart home devices, gaming, wearable gadgets, and all tech trending.

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