UK chip designer Arm seeks $52bn valuation in New York listing

The listing of the UK semiconductor designer Arm could raise $100m for investment banks working on the deal. Photograph: Bloomberg/Getty Images

The UK chip designer Arm will be valued at up to $52bn (£41.4bn) when it floats on the New York stock exchange.

The listing will raise less than its owner, SoftBank, had hoped, but could still deliver a fees bonanza of $100m to investment banks working on the deal.