SoftBank’s Arm Seeks to Raise Up to $4.87 Billion in Anticipated IPO
- Share sale to value Arm at as much as $54.5 billion at top end
- SoftBank will retain about 90% of company’s shares after IPO
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SoftBank Group Corp.’s Arm Holdings Ltd. is planning to raise as much as $4.87 billion in the chip designer’s long-anticipated initial public offering, marking lowered ambitions for an IPO that was once expected to generate roughly twice that amount.
Arm will offer 95.5 million American depositary shares for $47 to $51 each, the company said in a filing Tuesday with the US Securities and Exchange Commission. The deal will value Arm at as much as $54.5 billion at the top end of the range, according to Bloomberg News calculations. Underwriters have the option of buying as many as 7 million additional shares.