NEW YORK (Reuters) – SoftBank Group’s chip designer, Arm, plans to seek $47 to $51 per share from investors during its forthcoming initial public offering (IPO), according to a person familiar with the matter on Saturday.
The previously unreported price range would result in a valuation of approximately $50 billion to $54 billion for Arm, with an anticipated offering of $5 billion to $5.4 billion. These figures would make Arm the most valuable company to be listed in New York since the debut of electric car manufacturer Rivian Automotive in 2021.
The source, who requested anonymity due to the confidentiality of the matter, indicated that SoftBank may raise this range before the IPO prices if there is strong demand from investors.
When contacted for comment, representatives from SoftBank and Arm did not respond immediately.
(Reporting by Echo Wang in New York; Editing by Greg Roumeliotis and Matthew Lewis)
Credit: The Star : Tech Feed
