An IPO takes a really long time to initiate, draft, and conclude -- from legal due diligences, to investment banking drafts or market scouting, and securing ear

An IPO takes a really long time to initiate, draft, and conclude -- from legal due diligences, to investment banking drafts or market scouting, and securing early buyers. Investment banks kind of bid on the right to do the IPO for instance, each offering their own kind of package for ARM to go with. M&A departments in New York or London must have been (or still be) pulling all-nighters.