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Chip designer Arm files for IPO in US, aims for capitalization of over $70B
3:58 pm | August 23, 2023

Author: admin | Category: Mobile phones news | Tags: , | Comments: Off

Chip design company Arm, owned by SoftBank Group, filed for IPO in the United States. Market watchers are expecting the offering to be one of the highest for a tech company in history, and it is expected to reach an overall value of over $70 billion. The move comes after SoftBank acquired the final 25% of the company for $16 billion, essentially valuing the chip company at $64 billion. Bloomberg suggested Arm is looking to raise around $10 billion, as the number of official shares that will be in the public offering is not yet revealed. The company said in the filing that...