Arm Holdings Ltd. listed its IPO. Expectedly its public offering is already 10 times overbooked. Bankers making the decision to stop taking orders from Tuesday afternoon.
ARM supervised by SoftBank group Crop. The group will close its order book a day before Tuesday. However, it planning to price its shares on Wednesday. Insiders cannot identify what’s going on because the matter is super private.
Closing the booking of an IPO is not rare. It suggests strong IPO demands in the market.
ARM filed its IPO at $47 to $51 per share at a valuation of $54.5 billion. SoftBank purchased the Vision Fund’s stake in ARM at a valuation of more than $64 billion. That move led SoftBank to control over 90% of ARM’s shares.
A successful debut by ARM would provide a windfall for SoftBank’s founder Masayoshi Son. Masayoshi’s Vision Fund lost a record of $30 billion last year. The listing may lead to reenergizing the US IPO market. There are many IPOs waiting for their turns like, grocery-delivery firm Instacart Inc. and marketing and data automation provider Klaviyo Inc.
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