ARM CLOSES IPO, FULL EXERCISE OF UNDERWRITERS’ OPTION TO PURCHASE ADSS

KUALA LUMPUR, Sept 20 (Bernama) -- Arm Holdings plc (Arm) announced the closing of its initial public offering (IPO) of 102.5 million American depositary shares (ADSs), representing its ordinary shares, at a price to the public of US$51.00 per ADS. (US$1=RM4.69)

In a statement, Arm said it included the underwriters’ full exercise of their option to purchase up to an additional seven million ADSs to cover over-allotments.

Its ADSs began trading on the Nasdaq Global Select Market on Sept 14, under the ticker symbol “ARM”.

Raine Securities LLC acted as financial advisor in connection with the IPO, while Barclays, Goldman Sachs & Co LLC, J.P. Morgan, and Mizuho acted as joint book-running managers for the IPO.

Arm’s energy-efficient processor designs and software platforms have enabled advanced computing in over 250 billion chips and its technologies securely power products from the sensor to smartphone and supercomputer.

-- BERNAMA