Arm Holdings concludes IPO, begins trading on Nasdaq

  • Stock Market News
Arm Holdings concludes IPO, begins trading on Nasdaq
Credit: © Reuters.

Arm Holdings (NASDAQ: ARM ) successfully closed its initial public offering (IPO) on Wednesday, marking a significant milestone for the technology company. The IPO consisted of 102.5 million American depositary shares (ADSs), each priced at $51.00, and included underwriters' full exercise of their option to purchase an additional seven million ADSs to cover over-allotments.

The company's ADSs began trading on the Nasdaq Global Select Market under the ticker symbol "ARM" last Wednesday. This follows the U.S. Securities and Exchange Commission's declaration that Arm's registration statement on Form F-1 relating to the IPO was effective on Tuesday, September 13, 2023.

Arm Holdings is known for its energy-efficient processor designs and software platforms which have found application in over 250 billion chips worldwide.

Raine Securities LLC served as financial advisor for the IPO process, while Barclays (LON: BARC ), Goldman Sachs & Co (NYSE: GS ). LLC, J.P. Morgan, and Mizuho acted as joint book-running managers.

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