Arm, the prominent British microchip design company headquartered in Cambridge, has disclosed its intention to sell shares in the United States. The firm, known for its chip designs powering an array of devices from smartphones to gaming consoles, is preparing to make its debut on New York’s Nasdaq exchange in September.
While specific details such as the number of shares and price remain undisclosed, Arm’s proposed initial public offering (IPO) holds the potential to become the largest listing since the latter part of 2021.
In March, Arm dealt a setback to the UK by opting against listing shares in London. On Monday, the company announced the submission of a registration statement for its impending IPO. The quantity of shares available for sale and the price range are yet to be finalized.
Reports indicate that Arm is seeking a valuation ranging from $60 billion (£47 billion) to $70 billion.
Japanese conglomerate SoftBank acquired Arm in 2016 in a transaction valued at £23.4 billion. Before the acquisition, Arm was publicly listed in both London and New York for a span of 18 years.
Manufacturers such as the Taiwan Semiconductor Manufacturing Company, as well as technology giants like Apple and Samsung, utilize Arm’s chip design instructions and technologies to produce their own chips.
Listing a company on a stock exchange transitions it from a private entity to a public corporation, enabling investors to buy and sell shares on designated exchanges.
Earlier reports indicated that Arm had aimed to raise between $8 billion and $10 billion through its Nasdaq listing. Notable technology behemoths like Google, Apple, and Facebook are also listed on the Nasdaq, known for its focus on technology companies.
