Billionaire Masayoshi Son, chairman and chief executive officer of SoftBank, which owns Arm, speaks during a news conference in Tokyo, July 28, 2016.
Tomohiro Ohsumi | Bloomberg | Getty Images
Arm, which is owned by SoftBank, filed for its initial public offering Monday. The firm’s stock market debut will be a major test for the IPO market, which has more or less closed off from new listings due to rising interest rates which have hammered…