- Chip design firm Arm on Tuesday submitted an updated filing for its upcoming blockbuster initial public offering on the Nasdaq stock exchange, setting a price range between $47 and $51.
- Only 9.4% of Arm’s shares will be freely traded on the Nasdaq.
- Arm was previously dually listed in London and New York, before SoftBank acquired it for $32 billion in 2016.
SoftBank CEO Masayoshi Son against a backdrop illustrating SoftBank Group and the Arm unit in 2016.
Bloomberg | Bloomberg | Getty Images
Chip design firm Arm on Tuesday said it is looking to fetch as much as $4.87 billion in its upcoming blockbuster initial public offering on the Nasdaq stock exchange in New York, according to a fresh filing.
The deal could value the company at as much as $52 billion.
Arm submitted its updated F-1 filing with the U.S. Securities and Exchange Commission, setting out its ambitions to once again become a publicly listed company. It was previously dually listed in London and New York, before SoftBank acquired it for $32 billion in 2016.
As a British company, Arm qualifies as a foreign private issuer in the U.S. and its shares will count as American depositary shares, or ADSs. The company will list 95.5 million ADSs at a price range between $47 and $51. At the upper end of that range, CNBC estimates that Arm will likely raise up to $4.87 billion. At the lower end, the IPO would fetch $4.49 billion of fresh capital for Arm.
When the company floats in New York, it will look to tap into a deep pool of…
