Arm Holdings Ltd. has set terms for its initial public offering in the U.S., as the U.K.-based semiconductor designer looks to raise up to $4.87 billion, and...
Arm Holdings Ltd. has set terms for its initial public offering in the U.S., as the U.K.-based semiconductor designer looks to raise up to $4.87 billion, and be valued at up to $52.3 billion. The company said it is offering 95.5 million American depositary shares in the IPO, which is expected to price between $47 and $51 per ADS. The stock is expected to list on the Nasdaq under the ticker symbol “ARM.
” Each ADS will represent one ordinary share. With 1.03 billion ordinary shares to be outstanding after the IPO, the IPO pricing would value the company at between $48.23 billion and $52.33 billion. Barclays, Goldman Sachs, J.P. Morgan and Mizuho are the lead underwriters. The company is looking to go public at a time of relatively strong investor interest in IPOs, as the Renaissance IPO ETF has gained 6.6% over the past three months, while the S&P 500 SPX, +0.18% has gained 5.7%.
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