Arm has set terms for its IPO, as the U.K.-based chip designer looks to sell up to $4.9 billion worth of shares to the public.
Arm Holdings Ltd. has set terms for its initial public offering in the U.S., as the U.K.-based semiconductor designer looks to sell up to $4.9 billion worth of shares to the public.
The expected pricing of the IPO would value the company between $48.23 billion and $52.33 billion, which is slightly below the expected range as recently reported by The Wall Street Journal of $50 billion to $55 billion. The company ARM, said in a filing with the U.S. Securities and Exchange Commission that 95.5 million American depositary shares, or ADS, will be offered in the IPO, which is expected to price between $47 and $51 per ADS.All of the ADSs to be sold are currently held by Japan-based holding company SoftBank Group Corp. SFTBY, -0.89% 9984, +0.11%, which agreed to buy Arm in 2016 in a deal valued at more than $32 billion.Each ADS will represent one ordinary share. With 1.
The company is looking to go public at a time of relatively strong investor interest in IPOs, as the Renaissance IPO ETF IPO 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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