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NEW YORK: Arm Holdings Ltd, the chip designer owned by SoftBank Group Corp, began its marketing road show for its blockbuster initial public offering on Tuesday (Sep 5) in Baltimore, where T Rowe Price is headquartered, underscoring the fund manager’s significance as a potential investor.
Arm is also meeting with other potential investors, including Arlington, Virginia-based Sands Capital, in Baltimore on Tuesday, according to people familiar with the matter.
The chip designer is expected to meet with other investors in cities including New York in the days leading up to the pricing of its IPO on Sep 13, the sources said.
Arm declined to comment. T Rowe Price and Sands Capital did not immediately respond to requests for comment.
Earlier on Tuesday, Arm said it would seek to raise about US$4.9 billion at a valuation of more than US$52 billion from its IPO, which is expected to be the biggest stock market flotation of the year.
Arm has signed up many of its major clients as investors in its IPO, including Apple, Nvidia, Alphabet, Advanced Micro Devices, Intel and Samsung Electronics.
Arm has said that cornerstone investors have separately indicated an interest in buying a combined US$735 million of the American Depositary Shares (ADS) being sold.
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