Deals
SoftBank-Backed Arm Raises $4.87 Billion in Biggest 2023 IPO
- Chip designer valued at $54.5 billion in IPO at top of range
- Arm shares are set to begin trading Thursday on Nasdaq
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Arm Holdings Plc priced its initial public offering at the top end of its range to raise $4.87 billion in the largest listing of the year, one that could give a major lift to long-suffering equity markets.
The chip designer, which is owned by SoftBank Group Corp., sold 95.5 million American depositary shares for $51 apiece, according to a statement Wednesday confirming an earlier Bloomberg News report. Arm had marketed the shares for $47 to $51 each.