SoftBank’s Arm aims for over $52 billion valuation in biggest US IPO of the year
SoftBank Group’s Arm is seeking a valuation of more than $52 billion in its initial public offering, the chip designer said on Tuesday as it begins marketing for the biggest US stock market flotation of the year.
SoftBank is offering 95.5 million American depository shares of the United Kingdom-based company for $47 to $51 apiece and is looking to raise up to $4.87 billion at the top of the range, Arm said in a regulatory filing.
The valuation that Arm is chasing now represents a climb-down from $64 billion at which SoftBank last month acquired the 25 per cent stake it did not already own in the company from its Vision Fund.