Arm Holdings Ltd. is considering raising the price range of its initial public offering after meeting investors for what would be the world’s largest listing this year, according to people familiar with the matter.

Arm’s initial public offering is already oversubscribed by 10 times and bankers plan to stop taking orders by Tuesday afternoon, the sources told Bloomberg.

Softbank-backed Arm, will close its order book a day early on Tuesday, but is still planning to price its shares on Wednesday, the people said, asking not to be identified because the matter is private. It’s not uncommon for books to close early on an IPO, which often indicates strong demand.

The offering could end up as much as 15 times oversubscribed by Wednesday, the people added. Nothing is finalized and the IPO orders could always change.

Final pricing of Arm's IPO is likely to take place on Wednesday and the stock will start trading the next day, which is Thursday.

Arm filed for its IPO at $47 to $51 a share, which would have valued the company at $54.5 billion at the high end of the range. That was slightly below the $60 billion to $70 billion valuation the company had targeted earlier this year.

The chip designer has been looking to raise as much as $4.87 billion, offering 95.5 million American depositary shares at the $47 to $51 range. Any price hike is a sign that there’s been strong demand during the roadshow for its stock.

During its investor roadshows, the company mentioned that it expects revenue growth of 11 percent in its current fiscal year and an increase in the mid-20% range in fiscal 2025, boosted by demand for chips to power data centers and artificial intelligence.