British chip designer Arm Ltd is targeting an initial public offering at a valuation of between $60 billion and $70 billion as soon as September, Bloomberg News reported on Wednesday, citing people familiar with the matter. | Reuters
The roadshow is scheduled to start in the first week of September with pricing for the IPO to come in the following week, Bloomberg said.The chip designer, owned by SoftBank Group Corp, filed with regulators confidentially for a U.S. stock market listing in April, setting the stage for this year’s largest initial public offering.
Arm plans to sell its shares on Nasdaq later this year, seeking to raise between $8 billion and $10 billion, people familiar with the matter told Reuters in April.
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