Arm Ltd., the chip design firm owned by SoftBank Group Corp., said it confidentially submitted a draft registration statement to the US Securities and Exchange Commission for its proposed initial public offering.
The size and price range for the proposed offering have yet to be determined, the company said in a statement, adding that the IPO is subject to market and other conditions and the completion of the SEC’s review process.
Reuters reported earlier about the filing, noting that the company plans to raise between $8 billion and $10 billion.
