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SoftBank Group CEO Masayoshi Son was in San Francisco on Wednesday when he joined a call with his bankers in New York to make a final decision about his company's most valuable asset: chip designer...
Reuters had reported on Sunday that this outcome was likely. After reviewing investor commitments on Tuesday, Arm decided it will only accept the top end of its indicated $47-to-$51-per-share range, or a price that is even higher, the source said.
Chip designer Arm Holdings Plc secured a $54.5 billion valuation in its U.S. initial public offering (IPO) on Wednesday, seven years after its owner SoftBank Group Corp took the company private for $32 billion. The IPO represents a climb-down from the $64 billion valuation at which SoftBank last month acquired the 25% stake it did not already own in the company from the $100 billion Vision Fund it manages. Yet even with this lower valuation, SoftBank fares better than its $40 billion deal to sell Arm to Nvidia Corp, which it abandoned last year amid opposition from antitrust regulators.
SoftBank Group Corp's chip designer Arm Holdings Plc priced its U.S. initial public offering at $51 per share on Wednesday afternoon at the top end of its indicated price range, people familiar... -September 13, 2023 at 05:06 pm EDT - MarketScreener
By Echo Wang and Anirban Sen NEW YORK (Reuters) - SoftBank Group Corp's chip designer Arm Holdings Plc priced its U.S. initial public offering (IPO) a...