By Echo Wang
NEW YORK (Reuters) – Arm Holdings Ltd is targeting a valuation between $50 billion to $55 billion for its much-awaited initial public offering (IPO), ahead of its roadshow with investors next week, according to people familiar with the matter.
Arm, the chip designer owned by SoftBank Group Corp, is expected to set a price range for its offering next week, the sources said. Arm plans to price its shares on Sept. 13, with stock trading on the Nasdaq to start the following day.
SoftBank plans to sell about 10% of Arm’s shares in the IPO, Reuters has previously reported. SoftBank decided to sell fewer Arm shares in the IPO after buying the 25% stake in Arm it did not directly own from its Vision Fund unit in August.
(Reporting by Echo Wang in New York; Editing by Anirban Sen)