ARM goes public. (Source: ARM)
ARM has now successfully implemented its initial public offering (IPO), said to have inflated its stock price by 10% right from the start of trading. Big names in tech such as Samsung, Intel, AMD and MediaTek are projected to become significantly invested in the offering, now hailed as the largest of its kind in the last few years.
ARM has now officially beaten Rivian for the title of biggest IPO of the 2020s thus far, making 95,500,000 American depository shares (ADS), each equivalent to one of the cornerstone chip-designer’s ordinary shares, available at US$51 each.
Then again, they were found to have jumped up to ~US$56.10 each at the start of trading on the Nasdaq exchange. They will now spend their first weekend off at US$60.75, although they had been found to achieve a peak of nearly US$70 (or 1.35 times their original price) at one point prior to the end of trading on September 15, 2023.
Underwritten by Goldman Sachs (which has also reportedly seen a boost to its own share price), the offering may inevitably attract big fish such as Microsoft, Intel, Samsung and Apple; indeed, TSMC is already said to commit up to US$100 million to the IPO prior to its estimated closing date of September 18, 2023.
Meanwhile, ARM CEO Rene Haas has conveyed a “heartfelt thank you” to “employees, partners and the entire ecosystem who have worked together to advance (our) computing platform over our 33-year history“, and touts its “re-entrance into the public markets” as the next phase in its quest to “build the future of computing“.
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Deirdre O Donnell – Senior Tech Writer – 6709 articles published on Notebookcheck since 2018
I became a professional writer and editor shortly after graduation. My degrees are in biomedical sciences; however, they led to some experience in the biotech area, which convinced me of its potential to revolutionize our health, environment and lives in general. This developed into an all-consuming interest in more aspects of tech over time: I can never write enough on the latest electronics, gadgets and innovations. My other interests include imaging, astronomy, and streaming all the things. Oh, and coffee.
Deirdre O’Donnell, 2023-09-16 (Update: 2023-09-17)
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