British chip designer Arm Ltd is aiming for an IPO with a valuation of $60 billion to $70 billion in September, according to Bloomberg News. The roadshow will begin in the first week of September, with pricing for the IPO announced the following week.
Arm, which is owned by SoftBank Group Corp, confidentially filed for a U.S. stock market listing in April, making it the largest IPO of the year. The company plans to sell its shares on Nasdaq later this year, with the goal of raising $8 billion to $10 billion.
Arm’s chip designs are used by major semiconductor companies worldwide, including Intel, AMD, Nvidia, and Qualcomm. The impact of these companies’ IPO investments on Arm’s commercial relationships is unclear.
Earlier this year, Arm rejected a campaign from the British government to list its shares in London and opted for a U.S. exchange.
Both Arm and SoftBank declined to comment on the matter.
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