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Arm Holdings IPO: UK-based chip designer valued at £43.6bn ahead of eagerly awaited return to the stock market

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The firm, which has its headquarters in Cambridge and employs 2,800 staff, is an important cog in the technology sphere as its processor designs are used in the vast majority of the world's smartphones.

UK-based chip designer Arm Holdings has secured a $54.5bn value ahead of its eagerly anticipated return to the stock market later on Thursday.

High demand from investors meant it was able to sell the 95.5 million shares on offer - a 9.4% stake - at theThe overall market value - while better than the $40bn it would have achieved through a sale of Arm to Nvidia that was abandoned last year - is below the $64bn valuation that SoftBank had placed on Arm only last month.Firms have been reluctant to seek flotations amid the global economic slowdown, but the tech sphere has outperformed.

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