TSMC, the world’s largest contract chipmaker, stated on Tuesday its permitted an funding in Arm of as much as $100 million when the British semiconductor designer goes public.

Arm’s preliminary public providing is slated for this week within the U.S. with shares being priced between $47 and $51. This would generate practically $5 billion in recent funds for the corporate and worth it at over $50 billion.

In its prospectus, Arm stated that know-how firms together with Nvidia, Apple, TSMC and others had been excited about buying as much as $735 million value of shares within the IPO, although not one of the firms had decided.

TSMC stated it has now permitted an funding in Arm of an quantity not exceeding $100 million based mostly on its closing share worth at IPO.

Arm, which is owned by Japanese big Softbank, has not set its closing share worth.

However, there seems to be big demand for the IPO. Bloomberg reported on Monday that the IPO is already oversubscribed by 10 instances and that bankers may shut the order books for shares on Tuesday, which is sooner than anticipated. Bloomberg additionally reported that Arm is contemplating elevating the worth vary for its IPO.

Arm designs the blueprint or chip structure upon which 99% of the world’s smartphone processors are based mostly on.

TSMC is the world’s largest and most superior chipmaker. The Taiwanese agency manufactures semiconductors for firms from Apple to Nvidia, which are usually based mostly on Arm structure.