(Reuters) – SoftBank’s chip designer Arm Holdings is ready to debut on the Nasdaq on Thursday, in what is predicted to be the most important take a look at for the U.S. IPO market after a drought that lasted for practically 16 months.
Arm priced its providing of 95.5 million American Depositary shares at $51 apiece, fetching $4.87 billion for SoftBank at a valuation of $54.5 billion, with participation from cornerstone traders together with Apple, Intel and Alphabet. Hopes of a revival within the IPO market largely rely on the success of the high-profile listings of Arm and different marquee startups, together with grocery supply agency Instacart and advertising agency Klaviyo.
Barclays, Goldman Sachs, JPMorgan Chase and Mizuho Monetary Group are the lead underwriters.
(Reporting by Niket Nishant and Manya Saini in Bengaluru; Modifying by Arun Koyyur)
