By Echo Wang and Anirban Sen NEW YORK (Reuters) - Arm, the chip designer owned by SoftBank Group Corp, is getting close to securing enough investor ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy Echo Wang and Anirban Sen
Following strong demand from investors, Arm will likely be able to price the IPO at the top or above its $47-to-$51-per-share range when its underwriters close their books on Wednesday on the biggest U.S. stock market debut in two years, the sources said. Arm will not, however, offer more shares, given that SoftBank wants to retain a 90.6% stake in Arm following the approximately $5 billion IPO, as originally planned, the sources said.
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