KUALA LUMPUR, Sept 6 (Bernama) -- Arm Holdings plc (Arm) has launched a roadshow for the initial public offering (IPO) of American depositary shares (ADSs) representing its ordinary shares.
According to Arm in a statement, a total of 95.5 million ADSs are being offered by the selling shareholder, a wholly-owned subsidiary of SoftBank Group Corp, in the IPO, with a price range of US$47.00 to US$51.00 per share. (US$1=RM4.67)
Arm expects the selling shareholder to grant the underwriters an option to purchase up to an additional seven million ADSs to cover over-allotments, if any, for 30 days after the date of the final prospectus.
The company has applied to list the ADSs on the Nasdaq Global Select Market under the symbol “ARM”.
Raine Securities LLC is acting as financial advisor in connection with the proposed offering, while Barclays, Goldman Sachs & Co LLC, J.P. Morgan and Mizuho are acting as joint book-running managers for the proposed IPO.
Building the future of computing, Arm’s energy-efficient processor designs and software platforms have enabled advanced computing in more than 250 billion chips, while its technologies securely power products from the sensor to the smartphone and the supercomputer.
-- BERNAMA
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