NEW YORK: Arm, the chip designer owned by SoftBank Group Corp, received enough backing from investors to secure at least the top end of the price rang...
NEW YORK:
Arm may price its IPO above the indicated price range and will decide on how much it will sell its shares for on Wednesday, that source and a second person with knowledge of the matter said. The shares are scheduled to start trading in New York on Thursday. The valuation that Arm has been seeking thus far represents a climb-down from the US$64 billion valuation at which SoftBank last month acquired the 25% stake it did not already own in the company from the US$100 billion Vision Fund it manages.
Arm launched its IPO marketing efforts last week, seeking to convince investors it has growth ahead of it, beyond the mobile phone market, which it dominates with a 99% share.
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