SoftBank will reportedly price Arm’s initial public offering (IPO) at $51 per share.

Previous reports have revealed that the Japanese conglomerate, which acquired Cambridge-based chipmaker Arm in 2016, is targeting “up to $70 billion” for the listing.

People familiar with the matter told Reuters that the $51 per share price put it at the top end of its indicated price range.

Separate sources also previously told the news agency that Amazon was one of around 10 tech companies including Google parent Alphabet, Nvidia and Intel in talks with Arm around a possible investment.

Through these discussions, sources added that Arm was keen to attract big-name investors in a bid to heighten the attractiveness of the IPO, noting that any investment would not mean the potential investors would gain any board seats or control.

Sources familiar with the ambitions of the IPO previously told Bloomberg that SoftBank anticipates the IPO could raise “as much as $10 billion”, which would make it the highest globally in 2023 so far.

Earlier this year, Arm posted a 28 per cent revenue increase to $746 million in its third quarter of 2022 ended in December.

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