The <a href="https://www.thenationalnews.com/business/markets/2023/08/08/apple-and-samsung-among-big-tech-firms-to-invest-in-ipo-of-softbanks-uk-chip-unit/" target="_blank">SoftBank Group's British chip unit, Arm, </a>has filled out a roster of underwriters for its initial public offering, with 28 banks in all on the deal, sources have said. In addition to four lead lenders – Barclays, Goldman Sachs Group, JP Morgan Chase and Mizuho Financial Group – <a href="https://www.thenationalnews.com/Business/UK/2022/07/19/softbank-pauses-talks-for-arm-ipo-in-london-amid-uk-turmoil/" target="_blank">the offering </a>will have 10 second-tier underwriters, including Bank of America, Citigroup, Deutsche Bank and the Jefferies Financial Group, the sources said. A third-tier consists of a diverse group of 14 securities companies, including Daiwa Securities Group, HSBC Holdings, Intesa Sanpaolo and Societe Generale. A representative for Arm, which is majority owned by the SoftBank Group, declined to comment. The Cambridge-based chip maker has been seeking to raise $8 billion to $10 billion in September in what would be the year’s biggest IPO, Bloomberg News has reported. The company aims to be valued at $60 billion to $70 billion when it lists. The length of the line-up is a reflection of the global reach of Arm, which produces technology used in almost every smartphone, as well as the eagerness of lenders to land roles on big-ticket IPOs. The record IPO of <a href="https://www.thenationalnews.com/business/energy/2023/08/07/saudi-aramco-profit-oil-price/" target="_blank">Saudi oil company Aramco </a>in 2019 also featured about 25 banks. A subdued period for new listings around the world has made efforts to secure work on large deals even more important for investment banks in 2023.