Arm Holding Ltd. is expected to price its initial public offering above expectations late Wednesday following intense interest.
Following reports that Arm was pricing its initial public offering at $52 a share, a source close to the deal confirmed to MarketWatch that $52 was the expected price.
That puts the chip designer at a $55.5 billion valuation. Previously, Arm had stated a targeted range of $47 to $51. Over the weekend, several outlets reported that the offering was more than five times oversubscribed. That followed confirmation by the company recently that Intel Corp. INTC, -0.39%, Nvidia Corp. NVDA, +1.37%, Advanced Micro Devices Inc. AMD, +2.28%, Apple Inc. AAPL, -1.19%, Cadence Design Systems Inc. CDNS, +1.97%, Alphabet Inc.’s GOOG, +1.05% GOOGL, +1.01% Google International LLC, affiliates of MediaTek Inc. 2454, +0.55%, Samsung Electronics Co. 005930, +0.57%, Synopsys Inc. SNPS, +2.75% and Taiwan Semiconductor Manufacturing Co.’s TSM, +0.82% TSMC Partners Ltd.
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