SoftBank’s Arm Seeks Up to $4.87 Billion in Downsized IPO (4)

SoftBank Group Corp.’s Arm Holdings Ltd. is planning to raise as much as $4.87 billion in the chip designer’s long-anticipated initial public offering, marking lowered ambitions for an IPO that was once expected to generate roughly twice that amount.

Arm will offer 95.5 million American depositary shares for $47 to $51 each, the company said in a filing Tuesday with the US Securities and Exchange Commission. The deal will value Arm at as much as $54.5 billion at the top end of the range, according to Bloomberg News calculations. Underwriters have the option of buying as many ...