Published on Sep 13, 2023 at 6:28 p.m.Updated September 14, 2023 at 7:59
It’s Arm’s big day. The British chip designer unveiled its IPO price on the New York Stock Exchange this Wednesday evening. She priced the stock at the high end of the range offered to investors, at $51 per share. The company is thus valued at $54.5 billion.
Since last weekend, the syndicate of banks responsible for placing the shares – particularly extensive since there was talk of a total of 28 – leaked that the offer of securities totaling around $5 billion was largely oversubscribed by investors. The order book was even closed on Tuesday with demand 10 times higher than supply, the agencies reported. A possible proof of appetite that some, however, take with caution. The evolution of the price on the Nasdaq from Thursday and in the coming days will be the real judge of the peace.