The SoftBank-owned chip designer’s shares surged as high as US$66.28 each, up nearly 30 per cent from their US$51 offering price. (The Logic)
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The SoftBank-owned chip designer’s shares surged as high as US$66.28 each, up nearly 30 per cent from their US$51 offering price. (The Logic)
Talking point: The much-anticipated IPO’s pricing gave Arm a market capitalization of more than US$54 billion. After a dearth of new listings, Arm’s offering is the biggest since electric-truck maker Rivian went public in 2021, which raised nearly US$12 billion. Cambridge-based Arm’s performance could prompt other technology companies that have been waiting on the sidelines to try their luck at listing. It’s a positive signal to grocery-delivery startup Instacart and marketing-tool maker Klaviyo, both of which priced their IPOs at market capitalizations below their last known valuations.
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