The technology shares closed this Thursday with a rise of 24.7%, which boosted the gains of the Nasdaq
MADRID, 15 Sep. (EUROPA PRESS) -
The British microprocessor firm Arm, owned by the Japanese conglomerate Softbank, debuted this Thursday on the Nasdaq stock index in the United States with a strong rise in its shares, of almost 24.7%.
In this way, the company's market valuation has skyrocketed to more than 64,500 million dollars (60,700 million euros), compared to the 52,000 million dollars (48,841 million euros) at which it had been initially valued.
Arm, which returned to the stock market after seven years without listing, has staged the largest Public Sale Offer (IPO) of all of 2023 and one of the highest in the United States in recent years.
The company reported on Wednesday night that the price of the 95.5 million American Depositary Shares (ADS) that made up the IPO had been set at $51 each (47.9 euros), that is, in the range higher than initially announced (between 47 and 51 dollars).
At the close of its first day of trading, the technology company's shares stood at $63.59 (59.75 euros), 24.7% above the starting price.
Arm's gains boosted the Nasdaq, which ended Thursday's trading up 0.81%. The British company is listed on this technology index with the symbol "ARM".
Through this IPO, Softbank will initially place 9.4% of Arm's capital, but the offer allows potential shareholders the option to acquire another seven million ADS to cover potential oversubscriptions, if any, during the 30 days following the IPO. publication of the definitive brochure.
Once the sale is completed, the Japanese group will continue to retain 90.6% of Arm's ordinary share capital, an amount that would be diluted to a maximum of 89.9% if shareholders take advantage of the possibility of acquiring ADSs. additional.
The IPO is expected to close on September 18, subject to the usual closing conditions for this type of operation.
In 2016, SoftBank paid 32 billion dollars (30,056 million euros) to acquire Arm, which it delisted from the stock market.
The Japanese conglomerate began preparing the British firm's stock market exit after pressure from regulators frustrated the sale of the company to Nvdia, which was agreed in 2020 for $40 billion (€37.57 billion).