SoftBank's Arm set to debut on Nasdaq after blockbuster IPO

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Arm priced its offering of 95.5 million American Depositary shares at $51 apiece, fetching $4.87 billion for SoftBank at a valuation of $54.5 billion, with participation from cornerstone investors including Apple, Intel and Alphabet. Hopes of a revival in the IPO market largely depend on the success of the high-profile listings of Arm and other marquee startups, including grocery delivery firm Instacart and marketing firm Klaviyo. Barclays, Goldman Sachs, JPMorgan Chase and Mizuho Financial Group are the lead underwriters.

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How SoftBank played it safe in pricing Arm's IPOSoftBank Group CEO Masayoshi Son was in San Francisco on Wednesday when he joined a call with his bankers in New York to make a final decision about his company's most valuable asset: chip designer Arm Holdings. Arm's blockbuster initial public offering (IPO) was oversubscribed by 12 times, and could have been priced at $52 per share, above the indicated range of $47 to $51, people familiar with the matter said. But the bankers, who had huddled at the offices of SoftBank's financial advisor Raine Group, argued it was better to leave the additional $1 per share -- equivalent to about $1 billion in value -- on the table.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Arm reportedly pricing IPO at $51 per shareArm Holdings (ARM) is pricing its IPO listing at $51 per share, higher than previously expected, according to a Wall Street Journal report. Yahoo Finance Live hosts Akiko Fujita and Seana Smith discuss how Arm's market debut could reinvigorate the broader IPO market and SoftBank's (SFTBY, 9984.T) status as a majority stakeholder. Note: At the time of this report, The Wall Street Journal was reporting the IPO was priced at $52 per share. That reporting has since been updated to $51 per share.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »