Arm IPO documents reportedly show annual revenue dip
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British chip design firm Arm, which is owned by Japanese tech conglomerate SoftBank (OTCPK:SFTBY) and is slated to go public later this year, reportedly had an annual revenue dip in its most recent fiscal year.
Arm incurred the 1% decline in annual revenue for the 12 months ended March 31, Bloomberg reported, citing a draft filing of the initial public offering. 
SoftBank (OTCPK:SFTBY), which recently purchased the 25% of Arm that is held by its Vision Fund unit, has been targeting an IPO for Arm that could provide at least a $60B valuation for the firm, if not more.
Earlier this month, it was reported that the offering could raise as much as $10B and the roadshow would occur the first week of September, with pricing set for the following week.
Arm has spoken to a number of major tech companies about being anchor investors, including Intel (INTC), Alphabet (GOOGL), Apple (AAPL), Microsoft (MSFT), Taiwan Semiconductor (TSM), and Samsung Electronics (OTCPK:SSNLF) about participating in the IPO.
The company has also spoken to Nvidia (NVDA) and Amazon (AMZN) about participating in the offering. 
In February 2022, Nvidia (NVDA) abandoned its deal to acquire Arm for approximately $40B due to pressure from global regulators and other semiconductor companies.
Investment banks reportedly leading the offering include Goldman Sachs (GS), J.P. Morgan (JPM), Barclays (BCS) and Mizuho Financial.
Arm CEO Rene Haas said in February that the semiconductor design company was "committed" to having an IPO this year.
Arm was purchased by SoftBank (OTCPK:SFTBY) in 2016 for $32B.

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