Arm Prices IPO At $51 Per Share, Valuing Company At Over $54 Billion

Arm, the British semiconductor and software design company, has priced its initial public offering at $51 a share, valuing its market cap at over $54 billion. It's set to start trading on Thursday under the symbol "ARM." CNBC reports: The U.K.-based company is listing at least 95.5 million American depository shares on the Nasdaq, and SoftBank, its current owner, will control about 90% of the company's outstanding shares. The offering is at the top of Arm's expected price range of $47 to $51. Arm said in its prospectus that revenue in its fiscal year that ended in March slipped less than 1% from the prior year to $2.68 billion. Net income in fiscal 2023 dropped 22% to $524 million.

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