Correction: Arm prices IPO at $51 per share, at top of expected range

Chip designer Arm priced its initial public offering on Wednesday.

, priced its initial public offering at $51 a share, according to a source familiar with the matter.

The U.K.-based company is listing at least 95.5 million American depository shares on the Nasdaq, and SoftBank, its current owner, will control about 90% of the company's outstanding shares.

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