Chip designer Arm (ARMHF) said it confidentially submitted a draft registration statement with U.S. Securities and Exchange Commission for an initial public offering.
ARM, which is owned by Japanese conglomerate Softbank (OTCPK:SFTBY), is looking to raise at least $8 billion to $10 billion through the IPO, which will be listed on the Nasdaq, according to a Reuters report.
The IPO could be held as soon as this fall, with Arm valued between $30B and $70B. Goldman Sachs, JP Morgan and Mizuho are said to be leading the IPO process, with other investment banks expected to join in as it progresses, according to a Financial Times report earlier this month.
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