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Be the first with the news that moves the market- In its public market debut this week, Arm Holdings (NASDAQ:ARM) made the largest initial public offering of shares in nearly two years
- After having been priced at US$51, ARM shares opened at US$56.10 and scored a 24.6 per cent gain, yielding a valuation of US$65 billion
- The initial public offering price gave the British chip designer a market value of US$54.5 billion
- Arm Holdings last traded at US$63.59 per share
In its public market debut this week, Arm Holdings (NASDAQ:ARM) made the largest initial public offering (IPO) of shares in nearly two years.
After having been priced at US$51, Arm shares opened at US$56.10 and scored a 24.6 per cent gain, yielding a valuation of US$65 billion
Arm Holding’s IPO price gave the British chip designer a market value of US$54.5 billion. This is the biggest IPO of 2023 so far and could mark a turnaround for public offerings, which have struggled coming out of the COVID pandemic under geopolitical tensions and high interest rates.
Japanese technology investor Softbank acquired Arm in 2016.
Arm Holdings is a semiconductor intellectual property (IP) company that develops and licenses IP for various devices worldwide, and it provides development tools that accelerate product development, from sensors to smartphones to servers. Its chip design is used in nearly every smartphone, as well as the majority of tablets and digital TVs.
Arm Holdings last traded at US$63.59 per share.
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