SoftBank shares rise in Tokyo after Arm’s strong market debut

📆 15/09/2023 02:33:00
📰 MarketWatch

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SoftBank Group shares rose Friday morning in Tokyo after chip designer Arm surged in its Nasdaq debut overnight, raising hopes for a recovery in the IPO market.

Shares of SoftBank 9984, +1.94%, which took Arm private in 2016, jumped as much as 5.1% early in the session and were recently up 2.4% at 6,737 yen.

Arm’s offering, the biggest in the U.S. since Rivian Automotive made its debut in November 2021, raised around $5 billion for SoftBank.

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