Arm announces that it will submit an application for IPO to the United States and plans to go public this year.

CTOnews.com May 1 news, consistent with previous revelations, Arm recently announced in a press release that the company has submitted an application form to the Securities and Exchange Commission (SEC) and is expected to go public before the end of this year.

According to Reuters, Arm hopes to raise $8 billion to $10 billion (CTOnews.com Note: currently about 55.36 billion to 69.2 billion yuan), but Arm said the size and price range of the proposed offering have not yet been determined.

Softbank Corp. has been working to take Arm public since Softbank Corp. 's sale of Arm to Nvidia last year for $40 billion (currently about RMB 276.8 billion) fell through due to opposition from US and European antitrust regulators.

Earlier this year, Arm rejected a British government request for a London listing and said it would seek a listing on a US exchange.

Arm's IPO preparations are led by Goldman Sachs, JPMorgan Chase, Barclays and Mizuho Financial Group.