Arm Holdings (ARM), owned by SoftBank (TYO:9984), filed for its initial public offering with the U.S. Securities and Exchange Commission (SEC) today. The number of American depositary shares (ADS), representing Arm’s ordinary shares, as well as the price range for the proposed offering have yet to be determined.
Arm has applied to list the ADSs on the Nasdaq Global Select Market under the symbol “ARM”.
Raine Securities LLC is taking on the role of financial advisor in connection with the proposed offering. Barclays, Goldman Sachs, J.P. Morgan, and Mizuho are acting as joint book-running managers for the offering.
Earlier reports from Reuters have indicated that SoftBank aimed to position Arm with a valuation in the range of $60 billion to $70B for the IPO.