VentureBeat September 14, 2023
Arm Holdings, the chip architecture firm owned by SoftBank Group, is poised to raise about $4.7 billion in its initial public offering that valued the company at more than $54.5 billion.
Reuters reported earlier that the IPO was oversubscribed by six times. As such, the company is in a position to break the ice in the IPO market, with hopes that a rally could open the window for other companies to do the same. Yet Masayoshi Son, CEO of SoftBank, reportedly decided the $51 a share price for the 95.5 million shares going up for sale on Thursday was prudent.
SoftBank itself had hoped for a higher valuation, as last month SoftBank acquired the 25% share of Arm that it...