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Arm heads to Wall Street on Thursday for its biggest IPO of the year. Due to strong interest from investors, Arm is considering increasing the subscription price. In
Arm heads to Wall Street on Thursday for its biggest IPO of the year. Due to strong interest from investors, Arm is considering increasing the subscription price.
In a large round of investor discussions, Arm is considering raising the offering price above the current price range of $47 to $51 per share. At current levels, Arm would have a maximum valuation of $54.5 billion. Bloomberg now reports that the price range for next Thursday’s IPO could be higher.
According to sources close to the project, six times as many buyers have already registered. According to Bloomberg, discussions are currently ongoing, but no final decisions have been made yet.
It is traditional for companies to want to build positive momentum when going public in order to attract maximum interest when they go public. It would also benefit SoftBank, Arm’s owner, which had previously expected to value Arm at $60 billion to $70 billion.
The final price will be announced on Wednesday, a day before the IPO. Arm doesn’t want to comment on the situation. SoftBank itself is making fun of the IPO hype. This morning the stock rose 2.6 percent. The stock has risen 15 percent since the beginning of the year.
Arm’s IPO would provide the company with up to $4.87 billion in additional cash. A total of 95.5 million shares will be made available for trading on Wall Street next Thursday.
Arm already enjoys the support of major organizations such as Apple, AMD, Nvidia and Samsung. With the current AI hype, Arm hopes to benefit from the monster profits that Nvidia in particular is making.
Source: IT Daily
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