TOKYO/LONDON -- SoftBank Group's British chip design unit, Arm, plans to float its shares in an initial public offering on the Nasdaq in September, Nikkei has learned. The unit's market capitalization by that time is expected to be more than $60 billion, which would make the deal the world's biggest initial public offering so far this year.
SoftBank will officially apply to the U.S. Securities and Exchange Commission for the listing later this month. Then it must obtain approval from Nasdaq. Leading global chipmakers, including Apple, Samsung Electronics, Nvidia and Intel, will invest in Arm as soon as the company is listed on the market.