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SoftBank's Arm set to debut on Nasdaq after blockbuster IPO

Arm priced its offering of 95.5 million American Depositary shares at $51 apiece, fetching $4.87 billion for SoftBank at a valuation of $54.5 billion, with participation from cornerstone investors including Apple, Intel and Alphabet.
Last Updated 14 September 2023, 12:31 IST

SoftBank's chip designer Arm Holdings is set to debut on the Nasdaq on Thursday, in what is expected to be the biggest test for the US IPO market after a drought that lasted for nearly 16 months.

Arm priced its offering of 95.5 million American Depositary shares at $51 apiece, fetching $4.87 billion for SoftBank at a valuation of $54.5 billion, with participation from cornerstone investors including Apple, Intel and Alphabet.

Hopes of a revival in the IPO market largely depend on the success of the high-profile listings of Arm and other marquee startups, including grocery delivery firm Instacart and marketing firm Klaviyo.

Barclays, Goldman Sachs, JPMorgan Chase and Mizuho Financial Group are the lead underwriters.

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(Published 14 September 2023, 12:31 IST)

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