A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File photo
KUALA LUMPUR: Arm Holdings plc (Arm) announced the pricing of its initial public offering (IPO) of 95.5 million American depositary shares (ADSs), each representing one of its ordinary shares, at a price to the public of US$51.00 per ADS. (US$1=RM4.68)
In a statement, Arm said the ADSs began trading on the Nasdaq Global Select Market on Sept 14, under the symbol "ARM”, and the IPO is expected to close on Sept 18, subject to customary closing conditions.
The selling shareholder, a wholly-owned subsidiary of SoftBank Group Corp, in the IPO has granted the underwriters an option to purchase up to an additional seven million ADSs to cover over-allotments, if any, for 30 days after the date of the final prospectus.
Raine Securities LLC is acting as financial advisor in connection with the IPO, while Barclays, Goldman Sachs & Co LLC, J.P. Morgan and Mizuho are acting as joint book-running managers for the IPO.
Arm’s energy-efficient processor designs and software platforms have enabled advanced computing in over 250 billion chips and its technologies securely power products from the sensor to smartphone and supercomputer. - Bernama
