Reuters (Reuters) – According to Bloomberg News, British chip designer Arm Ltd is planning an initial public offering (IPO) in September with a valuation of $60 billion to $70 billion, citing people familiar with the subject.

According to Bloomberg, the roadshow will begin in the first week of September, with pricing for the IPO to follow the following week.

In April, the chip designer, which is controlled by SoftBank Group Corp (9984.T), filed a confidential application with regulators for a stock market listing in the United States, paving the way for this year’s largest IPO.

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