SoftBank’s Arm launches IPO courting T Rowe in $52 billion valuation ask

SoftBank Group’s Arm Holdings Ltd launched the roadshow for its blockbuster initial public offering (IPO) on Tuesday as the chip designer tries to convince investors it is worth as much as $52 billion in this year’s biggest share sale.

Arm kicked off its roadshow in Baltimore, where influential asset manager T Rowe Price is headquartered, underscoring the fund manager’s significance in big IPOs.

T Rowe Price has been an anchor investor in some of the biggest stock market debuts, including that of electric car maker Rivian Automotive Inc, which was valued at $66.5 billion in its IPO in 2021. Arm’s IPO is the largest since then.