Arm on Wednesday sold 95.5 million American depositary shares at the top of a marketed range of US$47 to US$51 each. The shares opened trading Thursday at US$56.10 and rose as much as 30%.
Arm Holdings climbed 25% in its trading debut after raising US$4.87 billion in the year’s biggest initial public offering, delivering a boost for both equity markets and SoftBank Group Corp founder Masayoshi Son.
Shares of the chip designer, still 90% owned by SoftBank, closed at US$63.59 in New York trading Thursday, giving Arm a market value of more than US$65 billion. Including restricted share units, Arm’s fully diluted valuation is closer to US$68 billion.
