Chip designer Arm targets $52 bn valuation in year’s largest IPO

British chip designer Arm is targeting a valuation of more than $52 billion for its initial public offering (IPO) on the Nasdaq exchange on Thursday, according to a company press release.

Arm, whose semiconductor design is integrated into the vast majority of smartphones worldwide, has priced its shares at $51, the firm announced Wednesday, ahead of the largest IPO New York has seen for almost two years.

The company, which is a world leader in smartphone chip design and is owned by the Japanese tech investor SoftBank, has announced it will list on the tech-rich Nasdaq stock exchange under the “ARM” ticker.