TOKYO (dpa-AFX) - Arm Ltd., the British chip maker owned by Japan's SoftBank Group Corp. (SFTBY.PK, SFTBF.PK), said that it has confidentially submitted a draft registration statement on Form F-1 to the U.S. Securities and Exchange Commission relating to the proposed initial public offering of American depositary shares representing its ordinary shares.
Arm noted that the size and price range for the proposed offering have yet to be determined. The initial public offering is subject to market and other conditions and the completion of the SEC's review process.
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