Cambridge-based chip design company Arm has filed paperwork for its proposed initial public offering (IPO) in the United States. The company, which makes microchips for a wide range of devices, including smartphones and game consoles, plans to list on New York's Nasdaq stock exchange in September. While Arm did not disclose the number of shares to be offered or their price, reports suggest that the IPO could value the company at between $60 billion and $70 billion. Arm was purchased by Japanese conglomerate Softbank in 2016 for £23.4 billion. The IPO will make Arm a publicly traded company once again.
