SoftBank’s Arm aims to raise at least $8 billion in US IPO

Arm Ltd, the British chip designer owned by Japan’s SoftBank Group Corp, is likely to aim to raise at least $8 billion from what is expected to be a blockbuster US stock market launch this year, people familiar with the matter said on Sunday.

Arm is expected to confidentially submit paperwork for its initial public offering in late April, the sources said, speaking on condition of anonymity because the discussions are confidential. The listing is expected to happen later this year and the exact timing will be determined by market conditions, the sources added.