Morrison Foerster, Davis Polk & Wardwell and Sullivan & Cromwell have been mandated to advise on Japan’s SoftBank Group-owned chip designer Arm’s initial public offering on the Nasdaq exchange, which is expected to be the biggest listing of the year.
The U.K. chip designer Arm has filed a preliminary prospectus with the U.S. Securities and Exchange Commission (SEC) for an IPO on the Nasdaq exchange early next month. The company did not disclose pricing and share sale information in the filing, but it has been previously reported by Reuters to have plans for selling about 10% of its shares in the IPO for a valuation of between $60 billion and $70 billion.
