U.K.-based chip designer Arm is looking to raise up to $4.87 billion in the biggest U.S. initial public offering (IPO) so far this year—one which could value the company at as much as $52 billion.

The company said in a 澳洲幸运5官方开奖结果体彩网:Form F-1 filing with the SEC on Tuesday it will list 95.5 million 澳洲幸运5官方开奖结果体彩网:American depositary shares (ADSs), or shares of a foreign company listed in the U.S., on the Nasdaq, with each valued between $47 and $51.

Biggest IPO Of The Year Yet

The IPO could raise anywhere from $4.49 billion to $4.87 billion, making it a bigger deal than Johnson and Johnson's (JNJ) Kenvue (KVUE) spinoff earlier this year.

It will also be the third-biggest IPO ever for a company listing on the Nasdaq, behind Facebook's (META) $16 billion offering in 2012 and 澳洲幸运5官方开奖结果体彩网:Rivian Automotive's (RIVN) IPO, which raised nearly $12 billion two years ago.

After the IPO, Arm is likely to have more than a billion shares outstanding, valuing the company at roughly $52 billion on the top end of the IPO price spectrum.

Softbank Is In Control, Tech Cജompanies and Investors Clamor For A ♛Piece of Arm

The firm had previously been dually listed on the New York and London stock exchanges up until 2016, when Japanese conglomerate SoftBank bought it for $32 billion. SoftBank will retain majority ownership of Arm, holding 90.6% of its shares once it goes public. As such, less than 10% of the company's shares will be traded freely between investors.

Advanced Micro Devices (AMD), Apple (AAPL), Google (GOOG) (GOOGL), Intel (INTC), Nvidia (NVDA), TSMC (TSM), and Samsung are among the companies that have expressed interest in buying into Arm's IPO individually, which together could total up to $735 million.

Arm's key product—semiconductor designs—is an indispensable resource for more than 260 technology companies that collectively make up to 30 billion chips annually, powering 99% of the world's smartphones. That's why these companies are jockeying for influence to gain a piece of Arm's IPO.

꧃Will It Be a Shot In The Arm For The U.S. IPO Market?

Industry analysts are hoping Arm's offering can buoy an IPO market that has faltered in recent years, as rising interest rates, economic uncertainty, and last year's 澳洲幸运5官方开奖结果体彩网:bear market in stocks 🤪have slowed demand for new offerings.

While the U.S. IPO market has bounced back slightly from last year's lows, activity remains far below its 2021 peak. The first half of 2023 saw just 63 IPOs in the U.S., up from 51 in the same period last year but well below a peak of 416 through all of 2021. Proceeds have also fallen precipitously, to $10.1 billion in the first half from $155.8 billion in 2021, according to an EY report.