SoftBank's Arm Holdings Prices IPO At $51.00/ADS, Top End Of Estimated Range

(RTTNews) - Chip designer Arm Holdings plc., affiliated to Japan's SoftBank Group Corp. (SFTBY), said that it has priced its initial public offering of 95.50 million American depositary shares or "ADSs" at a price to the public of $51.00 per ADS, which is the top end of the previously estimated range of $47.00 to $51.00 per ADS. Each ADS represents one of its ordinary shares.

The ADSs are expected to begin trading on the Nasdaq Global Select Market on September 14, 2023 under the symbol "ARM."

The selling shareholder in the IPO has granted the underwriters an option to purchase up to an additional 7 million ADSs to cover over-allotments, if any, for 30 days after the date of the final prospectus.

The IPO is expected to close on September 18, 2023.

It was in late August that Arm filed for an IPO in the U.S., which is expected to be one of the largest listing in recent years.