British chipmaker Arm made its highly anticipated initial public offering on the U.S. stock market Thursday, the largest IPO the market has seen since 2021.
Arm made its stock market debut with 95.5 million shares traded under the ticker ‘ARM’ on the Nasdaq, with Arm’s owner Softbank retaining approximately 90% of its shares.
Debuting at $51 per share, Arm gained 10% at opening on the morning of its IPO, placing its valuation at more than $60 billion.
By closing, Arm stock had risen by 24% on the Nasdaq.
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