Chip Designer Arm Jumps 25% in Debut Win for Owner SoftBank
- Arm’s IPO proves winning strategy for SoftBank’s Masayoshi Son
- Intel, Apple, Nvidia among tech giants backing Arm’s listing
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Arm Holdings Plc climbed 25% in its trading debut after raising $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 $63.59 in New York trading Thursday, giving Arm a market value of more than $65 billion. Including restricted share units, Arm’s fully diluted valuation is closer to $68 billion.