British chipmaker Arm made the largest initial public offering of the year with a valuation of $54 billion: the company placed 95.5 million shares on the Nasdaq at $51 each; At the beginning of trading, they immediately raised the price by 10%.
British chipmaker Arm received a valuation of $54 billion during its initial public offering on the Nasdaq. The company’s shares began trading publicly on Thursday, September 14, the company announced.
Arm’s IPO became the largest in 2023. The company placed 95.5 million shares on the exchange (ticker ARM) at $51 per share – this is the upper limit of the price range. According to trading data, the securities have already risen in price by 13%.
According to Bloomberg, demand for Arm securities exceeded supply ten times.
90% of Arm’s shares will belong to the Japanese group Softbank.
At the end of fiscal 2022, Arm achieved revenue of $2.68 billion with a net profit of $524 million (+22% year-on-year).
Author:
Kirill Bilyk
Source: RB
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