SoftBank’s chip designer Arm Holdings is about to debut on the Nasdaq on Thursday, in what is predicted to be the largest take a look at for the U.S. IPO market after a drought that lasted for almost 16 months.
Arm priced its providing 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 buyers together with Apple, Intel and Alphabet. Hopes of a revival within the IPO market largely rely on the success of the high-profile listings of Arm and different marquee startups, together with grocery supply agency Instacart and advertising and marketing agency Klaviyo.
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Barclays, Goldman Sachs, JPMorgan Chase and Mizuho Financial Group are the lead underwriters.
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Source: economictimes.indiatimes.com