Arm, the British chip innovator, has confirmed its intention to float on New York’s Nasdaq exchange, setting the stage for what is likely to be the biggest stock market listing this year.
The Cambridge-based company did not reveal the number of shares it was selling or the pricing of its offering in its filing yesterday with the US Securities and Exchange Commission. Last week, however, Softbank bought a 25 per cent stake in Arm that valued it at $64 billion, returning money to its Vision Fund and potentially setting a floor for the valuation. Analysts at Redburn said the expectation for the deal was in the $37 billion to $44 billion range, while the total range could be anything between $19 billion and $76 billion.
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