SoftBank's Arm Ltd aims upto $70 billion valuation in September IPO - Bloomberg News

British chip designer Arm Ltd is targeting an initial public offering (IPO) at a valuation of between $60 billion and $70 billion as soon as September, Bloomberg News reported on Wednesday, citing people familiar with the matter.

The roadshow is scheduled to start in the first week of September with pricing for the IPO to come in the following week, Bloomberg said.

The chip designer, owned by SoftBank Group Corp, filed with regulators confidentially for a U.S. stock market listing in April, setting the stage for this year's largest initial public offering.

Arm plans to sell its shares on Nasdaq later this year, seeking to raise between $8 billion and $10 billion, people familiar with the matter told Reuters in April.

Arm's designs are used to manufacture chips made by most of the world's major semiconductor companies, including Intel, AMD, Nvidia and Qualcomm. It was not immediately clear what impact any IPO investment by one or more of those companies would have on Arm's commercial relationships.

Earlier this year, Arm rebuffed a campaign from the British government to list its shares in London and said it would pursue a flotation on a U.S. exchange.

Arm and SoftBank declined to Reuters' request for comment.

(Reporting by Gursimran Kaur in Bengaluru; Editing by Savio D'Souza, Nivedita Bhattacharjee and Sohini Goswami)