Chip designer Arm priced its IPO on Wednesday.
Arm's fully-diluted market cap, which includes outstanding restricted stock units, is about $55.5 billion at the $52 offer price.
The offering is priced above Arm's expected price range of $47 to $51. The company will start to trade on Thursday under the symbol "ARM."in its prospectus that revenue in its fiscal year that ended in March slipped less than 1% from the prior year to $2.68 billion. Arm reported $524 million in net income, down 22% from 2022.
Arm's valuation for a chip company is exceedingly rich when compared to any player in the market other than Nvidia. At $55.5 billion, Arm would carry a price-to-earnings multiple of over 106, based on profit in the latest fiscal year. Many of Arm's most important customers, including Apple, Google, Nvidia, Samsung, AMD, Intel, Cadence, Synopsis, Samsung and Taiwan Semiconductor Manufacturing Company, will buy shares as part of the offering. Its technology is used in 99% of mobile processors around the world.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Arm prices IPO at $52 per shareChip designer Arm priced its IPO on Wednesday.
Read more »
Just 8 Chic Choker Necklaces to Stock Up on For Fall—Starting at $52They're dainty, modern, and affordable.
Read more »
North Korean Lazarus Group likely behind CoinEx's $55 million hack: ZachXBTNorth Korea's Lazarus Group was likely behind the $55 million hack of crypto exchange CoinEx, according to on-chain data sourced by ZachXBT.
Read more »
Taiwan chip giant TSMC to invest up to $100 million in Arm IPOTSMC manufactures semiconductors for companies from Apple to Nvidia, that are often based on Arm architecture.
Read more »