SoftBank's Arm prices IPO at $51 per share

SoftBank Group Corp's chip designer Arm Holdings Plc priced its U.S. initial public offering (IPO) at $51 per share on Wednesday afternoon at the top end of its indicated price range.

The IPO raised $4.87 billion for SoftBank based on 95.5 million shares sold. It infers a valuation on Arm on a fully diluted basis of $54.5 billion, making it the largest stock market debut since electric car maker Rivian Automotive Inc in 2021.