Shares of Arm Holdings plc surged 25% on their first day of trading, closing at $63.59.
The company priced its initial public offering of 95,500,000 American depositary shares at a price to the public of $51.00 per ADS.
The ADSs began trading on the Nasdaq Global Select Market on September 14, 2023 under the symbol “ARM.”
The selling shareholder, a wholly-owned subsidiary of SoftBank Group Corp., in the IPO has granted the underwriters an option to purchase up to an additional 7,000,000 ADSs to cover over-allotments, if any, for 30 days after the date of the final prospectus. The IPO is expected to close on September 18, 2023, subject to customary closing conditions.
Some notes on Arm
- Arm CPUs shipped in greater than 99% of the world’s smartphones in 2022
- More than 30 billion Arm-based chips reported as shipped in the fiscal year ended March 31, 2023, representing an approximately 70% increase since the fiscal year ended March 31, 2016.
- To date, Arm technology has shipped in more than 250 billion chips
- Approximately 70% of the world’s population uses Arm-based products
- For the fiscal year ended March 31, 2023, Arm’s total revenue was relatively flat at $2,679 million, as compared to $2,703 million in the fiscal year ended March 31, 2022.
- In the fiscal year ended March 31, 2023, as a percentage of total revenue our gross profit margin was 96% and operating income margin was 25%.
- As of March 2023, Arm had 5,963 full-time employees across North America, Europe and Asia.
- Arm began as a joint venture between Acorn Computers, Apple Computer, and VLSI Technology in 1990.
