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and we start with the uk chip designer, arm. its owner, japan's softbank, has finally filed the paperwork for a new york market listing. this highly anticipated floatation should net its japanese owner tens of billions of dollars and will be the biggest initial public offering in almost two years. arm is based in cambridge and plans to make its american stock market debut in early september, selling its shares on the nasdaq exchange. our north america business correspondent, michelle fleury, has the details. arm didn't reveal the number of shares that were selling or pricing of the offering but is reportedly for evaluation of between 60— $70 billion. ahead of the ibo the cambridge company revealed revenue was down 1% from a year earlier. the company, currently owned by
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japan's softbank is a chip designer whose technology powers most smartphones around the world including iphones. in 2020 silicon valley chipmaker nvidia tried to buy arm but the deal fell through because of regulatory scrutiny. despite that setback in video is apparently in talks to take the motor stake in the company when it goes public. 0ther motor stake in the company when it goes public. other possible big investors being floated around include apple and microsoft. since acquiring arm in 2016 at softbank has touted the well it will play in the ai revolution. it is offering two american investors will be a test of that claim. michelle fleury there. live now to fiona cincotta from city index. good morning. so much speculation about the market listing, so finally it's official, it's going ahead in september in new york which is a little controversial given arm's beginnings in the uk.
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different kinds of subscriptions, different kinds of business models and the cma thinks that could be a more innovative, betterfor the markets, and more creative way to license this content to get the market up and running, to ride that wave of growth, rather than if they were just in microsoft's possession. really interesting. let's see if we get further details today. thank you. the uk chip—maker arm, which is owned by japan's softbank, has finally filed the paperwork for a us market listing. this highly—anticipated floatation should net its japanese owner tens of billions of dollars and will be the biggest initial public offering in almost two years. the cambridge—based chip—maker plans to make its american stock market debut in early september, selling its shares on the nasdaq exchange. the bbc�*s michelle fleury has more. arm did not reveal the number of shares it was selling or the pricing of its offering, but it is reportedly looking for a valuation of between $60 billion
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