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Arm IPO Opens Higher by 10%

AuthorLouis Juricic
Published 09/14/2023, 12:21 PM
© Reuters. Arm (ARM) IPO Opens Higher by 10%
ARM
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Shares of chip designer Arm Holdings (ARM) opened for trading at $56.10 after earlier pricing 95,500,000 American depositary shares, each representing one of its ordinary shares, at a price to the public of $51 per ADS.

Arm was taken private by Masayoshi Son’s Softbank in 2016 and the investment company will maintain a majority stake after the IPO.

The listing is the largest in the US since 2021.

Raine Securities LLC is acting as financial advisor in connection with the IPO. Barclays, Goldman Sachs & Co. LLC, J.P. Morgan, and Mizuho are acting as joint book-running managers for the IPO. Barclays is acting as Billing and Delivery Agent, Goldman Sachs & Co. LLC is acting as IPO Allocation Coordinator, J.P. Morgan is acting as Stabilization Agent, and Mizuho is acting as Roadshow Launch Coordinator & Salesforce Presentation Host.

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