UK-based microchip firm Arm to sell shares in the US?
British microchip designing company Arm has filed paperwork to sell its shares in the United States.
The Cambridge-based firm makes chips for devices from smartphones to game consoles and intends to list on New York’s Nasdaq in September.
Arm did not disclose the number of shares for sale or the price, but its initial public offering (IPO) could be the most extensive listing since late 2021. In March, in a blow to the UK, the company opted against listing shares in London.
On Monday, Arm revealed it had publicly filed a registration statement correlating to an offered IPO. It said the number of shares to be shown and their price range was yet to be determined.
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But the company is reportedly looking for a valuation of between $60bn (£47bn) to $70bn.
Arm was purchased in 2016 by Japanese alliance Softbank in a deal worth £23.4bn. Before the purchase, it was listed in London and New York for 18 years.
Its chip setup instructions and technologies are used by manufacturers like the Taiwan Semiconductor Manufacturing Company and technology giants Apple and Samsung to produce their chips.
Listing a company on a stock exchange takes it from a private business to a public firm, with investors able to buy and sell shares of a firm’s stock on specific contracts.
