Sign In  |  Register  |  About Los Altos  |  Contact Us

Los Altos, CA
September 01, 2020 1:26pm
7-Day Forecast | Traffic
  • Search Hotels in Los Altos

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Arm shares climb in Wall Street debut

Arm Holdings, owned by SoftBank, made its debut on Wall Street on Thursday, after pricing its initial public offering at $51 per share at a valuation of $54 billion in high demand.

Arm Holdings on Thursday made its trading debut on Wall Street, after pricing its initial public offering (IPO) at $51 per share for a valuation of $54 billion in high demand.

Shares of the chip designer, owned by Japanese conglomerate SoftBank, opened up 10%.

ARM HOLDINGS IPO: WHAT TO KNOW

Arm, headquartered in Cambridge, England, designs semiconductors and software that powers them. The company specializes in designing central processing units (CPUs), graphics processing units (GPUs) and microprocessors. Processors designed by Arm are licensed and used in a wide variety of devices ranging from desktop computers to smartphones and supercomputers, as well as data servers and even cars.

Several notable companies are participating as investors in the IPO, including major Arm clients from the tech industry like Apple, Nvidia, Google parent Alphabet, Advanced Micro Devices and Intel.

Taiwan Semiconductor Manufacturing Corporation (TSMC), the world’s largest contract chipmaker, said Tuesday that it will invest up to $100 million in Arm’s IPO.

STOCKS IN SEPTEMBER MAY BE DICEY

TSMC Chairman Mark Liu said last week that "Arm is an important element of our ecosystem, our technology and our customers’ ecosystem. We want it to be successful, we want it to be healthy. That’s the bottom line."

CHINA RISKS SHOULD GET DISCLOSED BY LARGE US COMPANIES, SAYS FORMER SEC CHAIR

SoftBank will own 90.6% of Arm's ordinary shares after the offering closes, the company said, while not receiving any proceeds from the IPO, according to a regulatory filing with the Securities and Exchange Commission.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

FOX Business' Eric Revell contributed to this report. 

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 LosAltos.com & California Media Partners, LLC. All rights reserved.