SoftBank-backed chip designer Arm reveals filing for blockbuster U.S. IPO

News Snapshot:

Aug 22 (Reuters) - SoftBank Group-backed Arm Holdings' annual revenue dropped 1% due to a slowdown in smartphone sales, the chip designer disclosed in its paperwork for a U.S. initial public offering (IPO) that is expected to be the largest listing of the year. Its stock market launch is expected to bring back to life a lackluster IPO market, which has over the last year seen many high-profile startups put off their listing plans due to market volatility. The British firm has survived the chip industry downturn better than most and is moving into segments that are still booming, such...