:SoftBank Group’s Arm is aiming to raise up to $4.87 billion in the chip designer’s U.S. initial public offering, a regulatory filing showed on Tuesday.
SoftBank is offering 95.5 million American depository shares of the Cambridge, United Kingdom-based company for a price of between $47 and $51 apiece.
Arm’s return to the public markets will be a milestone for SoftBank, as it taps several marquee technology names as investors in the company whose designs power more than 99 per cent of the world’s smartphones.
The listing is expected to buoy the IPO market globally and fuel other startups to move ahead with their offerings as Arm’s success signals the return of investor appetite for high-growth technology companies.
Reuters first reported on SoftBank’s proposed price range for the IPO on Saturday. Sources also said it could possibly raise this range before the IPO prices, should investor demand prove strong.
Arm has also already signed up many of its major clients as investors in its IPO, Reuters reported on Friday. These include Apple, Nvidia, Alphabet, Advanced Micro Devices, Intel and Samsung Electronics.
