Technology
Arm raises $4.87bn in year’s biggest IPO
After the IPO, Japanese conglomerate SoftBank will still control about 90 per cent of the company’s shares
Chip designer Arm has priced its initial public offering (IPO) at the top end of its range to raise $4.87 billion in the largest listing of the year, in a move that values the company at $54.5 billion.
The company, which is owned by Japanese conglomerate SoftBank, sold 95.5 million American depositary shares for $51 apiece. It had marketed the shares for $47 to $51 each.
At the IPO price, Arm is valued at about ...