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Arm plans to price its initial public offering at $47 to $51 a share, raising as much as $4.9 billion for its current owner SoftBank and valuing the British chip designer at as much as $52 billion, according to filings updated on Tuesday.
Cornerstone investors including Apple, Google, Nvidia, Intel and TSMC have indicated they plan to buy up to $735 million worth of Arm stock at the IPO price, the company said.
SoftBank paid $32 billion for Arm in 2016, but its latest target is lower than the $64 billion valuation it hinted at in its Vision Fund deal less than a month ago. The Vision Fund is a $100 billion Saudi-backed investment vehicle managed by the Japanese conglomerate.
The IPO is expected to close next week, with SoftBank still owning 90.6 percent of the company. The companies will begin their roadshow to investors in New York on Tuesday in what is expected to be one of the largest listings of the year.
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