SoftBank-backed chip designer Arm reveals filing for blockbuster U.S. IPO

SoftBank Group Corp’s Arm Holdings Ltd reported a 1% fall in annual revenue due to a slowdown in smartphone sales, after the chip designer disclosed the paperwork for an initial public offering (IPO) that is expected to be the largest of the year.

Arm’s stock market launch is expected to bring back to life a lackluster IPO market, which has over the last year seen several high-profile startups postpone their listing plans due to market volatility. The British firm has weathered the chip industry downturn better than most and is moving into segments that are still booming, such as cloud computing.