(Reuters) – SoftBank’s chip designer Arm Holdings is set to make its debut on the Nasdaq on Thursday. This IPO is expected to be the biggest test for the U.S. IPO market after a drought that lasted for nearly 16 months.
Arm has priced its offering of 95.5 million American Depositary shares at $51 apiece, bringing in $4.87 billion for SoftBank. This places Arm’s valuation at $54.5 billion. Notable investors, including Apple, Intel, and Alphabet, have participated as cornerstone investors. The success of high-profile listings, such as Arm, Instacart, and Klaviyo, will play a significant role in reviving the IPO market.
Barclays, Goldman Sachs, JPMorgan Chase, and Mizuho Financial Group are the lead underwriters for this IPO.
News reporting by Niket Nishant and Manya Saini in Bengaluru; Editor: Arun Koyyur
Credit: The Star : Tech Feed
