SoftBank's Arm to Ask for $47 to $51 Per Share in IPO -Source

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SoftBank's Arm to Ask for $47 to $51 Per Share in IPO -Source

Reuters2023-09-03

SoftBank Group's chip designer, Arm, is planning to ask investors to pay $47 to $51 for each of its shares when it begins marketing its initial public offering next week, a person familiar with the matter said on Saturday.

The price range, which has not been previously reported, would translate into a valuation for Arm of roughly between $50 billion and $54 billion, and an offering of $5 billion to $5.4 billion. It would make Arm the most valuable company to list in New York since electric car maker Rivian Automotive debuted in 2021.

It is possible that SoftBank will raise this range before the IPO prices, should investor demand prove strong, said the source, who requested anonymity because the matter is confidential.

SoftBank and Arm did not immediately respond to requests for comment.

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Guavaxf30
·2023-09-03
Question: will this add to or draw away money from Tech stocks? That's the billion $ question to ask.
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