Sources say Arm is preparing to meet investors ahead of the blockbuster IPO

In this March 6, 2023 photo illustration, a smartphone with an Arm Ltd logo displayed is placed on a computer motherboard. REUTERS/Dado Ruvic/Illustration/File Photo acquire license rights

NEW YORK, Aug 31 (Reuters) – Arm Holdings Ltd plans to launch its roadshow to investors after Labor Day as the chip designer prepares for its much-anticipated initial public offering (IPO) in September, according to people familiar with the matter .

Arm, owned by SoftBank Group Corp (9984.T), is expected to price its offering next week, the sources said, adding that the company plans to price its shares on September 13, with the Stock trading is scheduled to begin the following day.

As Reuters previously reported, SoftBank plans to sell about 10% of Arm’s shares in the IPO, at a valuation of $60 billion to $70 billion. SoftBank decided to sell fewer Arm shares in the IPO after the company bought the 25% stake in Arm it didn’t directly own from its Vision Fund unit.

Several of Arm’s clients have been in talks to own part of the IPO, including Apple (AAPL.O), Amazon.com (AMZN.O), Intel (INTC.O), Nvidia (NVDA.O), Alphabet (GOOGL .O). ), Microsoft (MSFT.O), Samsung Electronics (005930.KS) and TSMC (2330.TW), Reuters previously reported. Arm and SoftBank reserved 10% of the shares to be sold in the IPO for their clients.

A successful IPO for Arm would be a boon for SoftBank, which reported its third straight quarterly loss in August, hurt by valuation declines at big holdings like Chinese e-commerce firm Alibaba Group (9988.HK) and German telco Deutsche Telekom (DTEGn.DE) and US mobile operator T-Mobile US (TMUS.O).

Goldman Sachs Group (GS.N), JPMorgan Chase (JPM.N), Barclays (BARC.L) and Mizuho Financial Group (8411.T) are the lead subscribers to the offering. Arm’s shares are listed on the Nasdaq and trade under the ticker symbol “ARM”.

Bloomberg reported Arm’s IPO schedule on Thursday.

Reporting by Anirban Sen in New York; Edited by David Gregorio

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Anirban Sen is the senior editor for US M&A at Reuters in New York, where he leads coverage of the largest deals. After joining Reuters in Bangalore in 2009, Anirban left in 2013 to work as a technology deal reporter for several leading business news outlets in India, including The Economic Times and Mint. Anirban rejoined Reuters in 2019 as senior finance editor to lead a team of reporters covering everything from investment banking to venture capital. Anirban holds a degree in History from Jadavpur University and a Postgraduate Diploma in Journalism from the Indian Institute of Journalism & New Media. Contact:+1 (646) 705 9409