2023-09-13 17:04:18
Published on September 13, 2023 at 6:28 p.m. Updated on September 13, 2023 at 7:04 p.m.
It’s Arm’s big day. The British chip designer was due to unveil its IPO price on the New York Stock Exchange this Wednesday evening. According to Archyde.com, Arm’s management believes it is justified to price the stock at the top of the price range offered to investors. At $51 per share, the company would be valued at $54.5 billion.
Since last weekend, the syndicate of banks responsible for placing the shares – particularly extensive since there was talk of a total of 28 – leaked that the offer of securities totaling around 5 billion dollars was largely oversubscribed by investors. The order book was even closed on Tuesday with demand 10 times higher than supply, the agencies reported. A possible proof of appetite that some, however, take with caution. The evolution of the price on the Nasdaq from Thursday and in the coming days will be the real judge of the peace.
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