Shares of SoftBank's Arm Holdings opened 10% above their offer price in their Nasdaq debut on Thursday, giving the chip designer a valuation of nearly $60 billion in its return to the public markets after seven years.
their offer price in their Nasdaq debut on Thursday, giving the chip designer a valuation of nearly $60 billion in its return to the public markets after seven years.
Its stock opened at $56.10 per American Depositary Share compared with the initial public offering price of $51, in a sign of confidence for other companies planning to list.a valuation of $54.5 billion on Wednesday after pricing its IPO at the top end of the marketed range. It fetched $4.87 billion for SoftBank, which still holds a 90.6% stake.
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