Arm files for US listing in drive to raise £8bn funding

Chip designer Arm has registered for a US stock market listing – set to be this year’s biggest.

The Cambridge-based firm – thought to be valued at £50billion – has filed papers with regulators after revealing in March that it planned to float in New York.

Arm is a major UK success story whose technology underpins the global smartphone industry.

Listing: Arm is a major UK success story whose technology underpins the global smartphone industry

But it has shunned a listing in London, despite a campaign by ministers.

Its initial public offering (IPO) registration in the US confirms that it plans to press ahead despite recent market volatility. The number of US IPOs in 2023 is down 22 per cent on last year, according to figures from Dealogic.

However, the market may be starting to thaw, with Johnson & Johnson preparing to list its consumer health business Kenvue in New York next week.

Arm is reported to be planning to raise up to £8billion in a Nasdaq index float. 

Arm has been faring better than some other companies in the chip industry thanks to its focus on data centre servers and personal computers.

Sales climbed 28 per cent to £593million in its most recent quarter.