SoftBank's Arm Ltd targets September IPO valuation of up to $70 billion – Bloomberg


British chip design company Arm Ltd is targeting an initial public offering (IPO) as early as September, with a valuation of between $60 billion and $70 billion, Bloomberg reported on Wednesday, citing people familiar with the matter.

Bloomberg said the roadshow is scheduled to begin in the first week of September and IPO pricing will be announced next week.

The chip designer, part of SoftBank Group Corp, confidentially filed with regulators in April to list on the U.S. stock market, setting the stage for the year's largest initial public offering.

Arm plans to sell its shares on Nasdaq later this year, seeking to raise $8 billion to $10 billion, people familiar with the matter told Reuters in April.

Arm's designs are used to make chips produced by most of the world's major semiconductor companies, including Intel, AMD, Nvidia and Qualcomm. It's unclear what impact any IPO investment by one or more of these companies would have on Arm's commercial relationships.

Earlier this year, Arm rejected a British government proposal to list in London and said it would seek a listing on a U.S. exchange.

Arm and SoftBank declined to respond to Reuters' requests for comment.


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