Arm Files for Nasdaq IPO in What Could Be the Largest Listing of 2023

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In 2020, Softbank agreed to sell Arm for $40 billion to Nvidia but abandoned the deal on opposition from regulators. Photo: VCG

(Nikkei Asia) — SoftBank Group-owned chip designer Arm on Monday filed with the U.S. Securities and Exchange Commission for an initial public offering on the Nasdaq exchange as early as next month, a highly anticipated move expected to produce the biggest listing of the year.

Softbank Group is said to be seeking a valuation that would give the unit an estimated market capitalization of over $60 billion. As a major player in the global semiconductor industry, Arm’s market debut could spur other tech firms to go public as well.