British chip innovator Arm has set its sights on a valuation target of $60bn (£47bn) to $70bn (£55bn) when it goes public, which could be as soon as this September.
Arm is gearing up to float on New York’s Nasdaq in the first week of September with pricing for the IPO to arrive in the following week, according to Bloomberg News.
It hopes of raising $8bn (£6.3bn) to $10bn (£7.8bn), the report said.
Softbank, which owns Arm, did not immediately respond to a request for comment on the Bloomberg report, while Arm said it would not be commenting at this time.
The firm filed for a US stock market listing in April, snubbing the British government’s pleas to list in London.
Tech companies are increasingly swerving the UK to opt for US listings, with ministers and regulators in London now working on plans to help make the City’s capital markets more attractive.
Hermann Hauser, a key figure in the development of Arm’s first processor, blamed Brexit “idiocy” for the company’s decision to list in the US rather than the UK.
Arm’s chip designs are used globally by big chipmaker names like Nvidia and Intel, who are among at least 10 companies reportedly lining up to be anchor investors in the Cambridge-based firm.
Regulatory authorities thwarted Nvidia’s previous attempt to acquire Arm for $66bn (£51bn) last year due to concerns it could harm competition.