© Reuters. FILE PHOTO: A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
By Echo Wang
NEW YORK (Reuters) – SoftBank (TYO:) Group’s chip designer, Arm, is planning to ask investors to pay $47 to $51 for each of its shares when it begins marketing its initial public offering (IPO) next week, a person familiar with the matter said on Saturday.
The price range, which has not been previously reported, would translate into a valuation for Arm of roughly between $50 billion and $54 billion, and an offering of $5 billion to $5.4 billion. It would make Arm the most valuable company to list in New York since electric car maker Rivian (NASDAQ:) Automotive debuted in 2021.
It is possible that SoftBank will raise this range before the IPO prices, should investor demand prove strong, said the source, who requested anonymity because the matter is confidential.
SoftBank and Arm did not immediately respond to requests for comment.