Chip designer Arm files for public listing that could revive flat IPO market

Chip designer Arm has filed for an initial public offering, which is expected to be the biggest IPO of the year. The UK-based company announced on Monday that it’s applied to sell shares on the Nasdaq stock exchange in the US — a move that is a big blow to its home country. Arm is reportedly eyeing a valuation of between $60bn (€55bn) to $70bn (€64bn). The lofty target stems from the ubiquity and efficiency of Arm’s semiconductor architectures — particularly in mobile devices. Arm estimates that more than 99% of the world’s smartphones use Arm-based chips. In recent years, however,…

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