Technology giant Arm plans for $8.6 billion London IPO

LONDON (Reuters) -Technology group Arm Holdings plans to list its shares in London in what could be the UK's largest initial public offering in more than 25 years.<br><br>The company, owned by Japan's SoftBank, said it plans to raise about $3.3 billion in the IPO, but sources said the valuation will likely be significantly higher at around $50 billion to $55 billion.<br><br>Arm, whose designs are used in 95% of the world's smartphones, may list as early as September in a deal that could value it at $50 billion to $55 billion, sources said on Wednesday.<br><br>SoftBank is expected to remain the largest shareholder following the IPO, but will sell a significant number of shares, sources said.<br><br>Arm declined to comment.