ADVERTISEMENT
SoftBank's Arm set to debut on Nasdaq after blockbuster IPOArm 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.
Reuters
Last Updated IST
<div class="paragraphs"><p>The logo of SoftBank Group Corp.</p></div>

The logo of SoftBank Group Corp.

Credit: Reuters Photo

SoftBank's chip designer Arm Holdings is set to debut on the Nasdaq on Thursday, in what is expected to be the biggest test for the US IPO market after a drought that lasted for nearly 16 months.

ADVERTISEMENT

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.

ADVERTISEMENT
(Published 14 September 2023, 18:01 IST)