British chip designer Arm Ltd. is targeting a valuation of more than $52 billion from what is expected to be the largest initial public offering this year, according to the company’s latest regulatory filing.
SoftBank Group, Arm’s owner, plans to sell roughly 10% of the total shares outstanding, setting a share sale price of between $47 and $51 apiece. The Securities and Exchange Commission filing comes as Arm’s management hits the road starting Tuesday to meet with prospective investors to solicit support for the offering.
The offering, expected to be the largest of the year, is an important test case for the sustainability of the recent revival in the IPO market because of its considerable size. It will follow the successful, but smaller issues, in June by restaurant chain Cava Group and in July by Oddity Tech, a direct-to-consumer seller of makeup brands.
Read the full story on The Wall Street Journal here.