UK chip designer Arm valued at $51 a share ahead of Wall Street IPO
by Hibaq Farah from Economics | The Guardian on (#6ER7S)
British tech firm valued at $54.5bn before highly anticipated flotation on Nasdaq by private owner SoftBank
The British chip designer Arm has secured a $54.5bn (43.6bn) valuation in its initial public offering (IPO), before its highly anticipated return to the stock market in New York on Thursday.
The company, owned privately by the Japanese investor SoftBank since 2016, priced its shares at $51 each and sold 95.5m shares, raising $4.87bn for Softbank.
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