SoftBank-backed chip firm Arm to list on Nasdaq in over $60 bil. IPO

SoftBank Group Corp.-backed British chip designer Arm said Monday it has filed to list its shares on the Nasdaq stock exchange in the United States, with its market capitalization estimated to reach $60 billion to $70 billion in what could be the largest initial public offering this year. The chip giant, whose technology powers most smartphones worldwide, is expected to go public in September, people familiar with the matter said, although it did not specify the timing of the listing or the offer price. SoftBank will continue to hold the majority of its shares. The listing will supply the Japa…

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