Arm Soars On Debut On Nasdaq And Reaches Market Capitalization Of $60 billion
14 Setembro 2023 - 3:42PM
IH Market News
Arm Holdings (NASDAQ:ARM) shares rose to an intraday high of up
to US$61.99 in their debut this Thursday on the Nasdaq, an increase
of more than 21% when considering the Initial Public Offering (IPO)
of $51.00, valuing the company around US$60 billion on the stock
market.
At around 1:20 pm, the company’s shares rose to US$60.94, which
represents a sign of confidence for other companies that plan to
carry out an IPO this year, despite a scenario of high interest
rates in the United States.
The chipmaker, owned by SoftBank, sold 95.5 million American
Depositary Shares (ADS), at the top of the price range, between
US$47.00 and US$51.00.
The list of investors includes some of Arm Holdings’ main
customers, such as Apple, Intel, Nvidia, Samsung Electronics and
Taiwan Semiconductor Manufacturing Co. Softbank controls 90% of
Arm’s shares.
The company raised US$4.87 billion in what was the biggest IPO
of the year. Arm’s listing is also the largest since the Arm
offering. electric vehicle manufacturer Rivian Automotiv Inc., in
October 2021.
The IPO should also rank among the technology industry’s biggest
ever, although still well below Alibaba in 2014 and Meta in 2012,
with IPOs worth $25 billion and $16 billion, respectively.
ARM (NASDAQ:ARM)
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