Arm, the prominent British microchip design company, has officially submitted documentation for the sale of its shares in the United States. The firm, headquartered in

Cambridge, specializes in chip design for various devices, ranging from smartphones to gaming consoles. It intends to list on New York's Nasdaq exchange in September, potentially marking one of the most significant initial public offerings (IPOs) since late 2021.

While the specific number of shares to be offered and the pricing details remain undisclosed, Arm is reportedly aiming for a valuation ranging between $60 billion (£47 billion) and $70 billion. The company's decision to pursue a US IPO comes after it opted against listing shares in London earlier this year, posing concerns about the UK's tech stock market appeal.

Founded in 1990, Arm is a pivotal player in the UK's technology sector and holds a reputation as the "crown jewel" of the industry. The firm's chip design technologies are crucial for manufacturers like Apple, Samsung, and the Taiwan Semiconductor Manufacturing Company.

Arm's decision to list on the Nasdaq exchange reflects its strategic choice to navigate the global market and secure funding despite challenging financial conditions, including disruptions caused by the Covid pandemic and semiconductor shortages. The company's sales were impacted, with a decline to $2.68 billion for the year ending March 31 due to reduced demand in the wake of the pandemic.

The move also signifies Softbank's intent to proceed with the multi-billion dollar sale despite market challenges. The chip-making industry has faced various hurdles in recent times, such as supply chain disruptions and fluctuating demand. Arm's submission for a US IPO showcases its commitment to growth and innovation within the global tech landscape, while maintaining key operations and intellectual property in the UK. Photo by Cmglee, Wikimedia commons.