The stock price of British semiconductor design company Arm Holdings rose on the US stock market on the 14th. At one point, it was 22% above the initial public offering (IPO) price of $51. The company, which is part of the SoftBank Group, held its largest IPO of the year, raising $4.87 billion (approximately 718 billion yen) the day before. It boosted the stock market and brought success to SoftBank Group Chairman and CEO Son.
The stock opened at $56.10 at 12:19 p.m. New York time, and at one point approached $62. The company has a market capitalization of approximately $62 billion, or nearly $65 billion on a fully diluted basis, including restricted stock units (RSUs).
Video: Arm CEO Rene Haas interviewed on Bloomberg Television
Source: Bloomberg
This day’s transactions proved that Son’s judgment was accurate. At the final pricing meeting on the 13th, some banks and corporate executives suggested prices higher than the pre-range range, but Son was unwilling to risk damaging a healthy debut in favor of an additional $100 million or so. Bloomberg News reported that he rejected the proposal saying he did not want to do so. With Wednesday’s stock price increase, SoftBank’s stake increased in value by about $9.2 billion.
At the time of its IPO, Arm had secured over $700 million worth of shares to receive investment from large customers such as Intel, Apple, Nvidia, Samsung Electronics and Taiwan Semiconductor Manufacturing Co. (TSMC).
Arm, a subsidiary of SoftBank G, raises $4.87 billion – largest IPO of the year
Original title:SoftBank’s Arm Rises Up to 15% After Year’s Biggest IPO (2)(excerpt)
(Update stock price and market capitalization and add information)
2023-09-14 16:15:00
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