Arm Announces Pricing of Initial Public Offering
September 15, 2023: Arm, the British chip designer, has priced its initial public offering (IPO) at $9.60 per share. The company is expected to raise about $6.6 billion from the offering, making it one of the largest IPOs of the year.
The IPO is being conducted by Morgan Stanley, Goldman Sachs, and JP Morgan. The shares will start trading on the Nasdaq Stock Exchange on September 16 under the “ARM.”
Arm is a leading provider of chip designs for smartphones, servers, and other devices. Many customers, including Apple, Samsung, and Qualcomm, use the company’s chips.
Arm was acquired by SoftBank in 2016 for $32 billion. SoftBank is selling its stake in Arm as part of a broader plan to raise money.
The IPO is a significant milestone for Arm. The company has been privately held for over 40 years. The IPO is expected to give Arm access to a broader pool of capital and help the company grow its business.
Here are some critical details about the IPO:
- The offering consists of 675 million shares.
- The shares are priced at $9.60 per share, at the top of the expected range.
- The IPO is expected to raise about $6.6 billion.
- The shares will start trading on the Nasdaq Stock Exchange on September 16 under the “ARM.”
The IPO is a positive development for Arm. The company is well-positioned to benefit from the growing demand for chips in various devices. The IPO is also a sign of confidence in the chip industry.
The IPO is also a significant event for the UK. Arm is a British company whose IPO significantly boosts the UK tech sector. The IPO is also expected to create jobs and investment in the UK.
The IPO is expected to be closely watched by investors. Arm is a leading player in the chip industry, and its IPO is a significant event. The IPO is also expected to test investor sentiment towards the chip industry.
The outcome of the IPO is uncertain. The chip industry faces several challenges, such as rising costs and chip shortages. However, Arm is a well-positioned company, and the IPO is expected to be successful.