SoftBank picks four Wall Street banks for Arm's massive Nasdaq IPO

Deals such as Arm and Virgin come amid a slump in global IPO activity. Just 181 IPOs priced on US stock exchanges last year, compared to 1035 deals in 2021, data from Statista showed. Australia's equity capital markets are also going through a rough patch. In the first half of last year, 59 companies listed on the ASX, but only 28 IPOs priced in the second half. This was down 54 per cent from the total number of IPOs in 2021, HLB Mann Judd said in a report in January. SoftBank pay day Like Virgin, Arm is also relisting on…