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ETtech Explainer: Softbank-owned Arm Ltd set to go public in biggest IPO of the year
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Arm Ltd filed for its initial public offering (IPO) in the US on Monday, in what is likely to be the biggest listing of the year. The company has not disclosed the size of the offering.
SoftBank plans to sell about 10% of Arm's shares in the IPO, seeking a valuation of $60-70 billion, Reuters reported.
Its shares will likely trade in the Nasdaq Global Select Market, under the symbol “ARM”.
Arm said the offering is being underwritten by Barclays Plc, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Mizuho Financial Group Inc.
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