Chip designer Arm sets a $47 to $51 share price range for its U.S. IPO

Chip design firm Arm has updated its filing for its mega initial public offering on the New York Stock Exchange, setting a price range between $47 and $51.

Arm used to be dually listed in London and New York, before SoftBank acquired it for $32 billion in 2016.

Only 9.4% of Arm’s shares will be freely traded on the New York Stock Exchange, with SoftBank expected to own roughly 90.6% of the company’s outstanding shares following the completion of the IPO.

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