SoftBank's Arm starts IPO roadshow in Baltimore to court T Rowe Price

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NEW YORK, Sept 5 (Reuters) - Arm Holdings Ltd, the chip designer owned by SoftBank Group Corp (9984.T), began its marketing roadshow for its blockbuster initial public offering on Tuesday in Baltimore, where T Rowe Price is headquartered, underscoring the fund manager's significance as a potential investor.

Arm is also meeting with other potential investors, including Arlington, Virginia-based Sands Capital, in Baltimore on Tuesday, the sources said.

The chip designer is expected to meet with other investors in cities including New York in the days leading up to the pricing of its IPO on September 13, the sources said.

Arm declined to comment. T Rowe Price and Sands Capital did not immediately respond to requests for comments.

Earlier on Tuesday, Arm said it would seek to raise about $4.9 billion at a valuation of more than $52 billion from its IPO, which is expected to be the biggest stock market flotation of the year.

Reporting by Echo Wang and Anirban Sen in New York Editing by Nick Zieminski

Our Standards: The Thomson Reuters Trust Principles.

Echo Wang is a correspondent at Reuters covering U.S. equity capital markets, and the intersection of Chinese business in the U.S, breaking news from U.S. crackdown on TikTok and Grindr, to restrictions Chinese companies face in listing in New York. She was the Reuters' Reporter of the Year in 2020. Contact: +9172873971

Anirban Sen is the Editor in Charge for U.S. M&A at Reuters in New York, where he leads the coverage of the biggest deals. After starting with Reuters in Bangalore in 2009, Anirban left in 2013 to work as a technology deals reporter in several leading business news outlets in India, including The Economic Times and Mint. Anirban rejoined Reuters in 2019 as Editor in Charge, Finance to lead a team of reporters, covering everything from investment banking to venture capital. Anirban holds a history degree from Jadavpur University and a post-graduate diploma in journalism from the Indian Institute of Journalism & New Media. Contact:+1 (646) 705 9409

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