Arm shares soar on debut with hopes rising float could kick off IPO revival

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City AM

By Andy Silvester Shares in SoftBank’s Arm Holdings soared almost 25 per cent above their Nasdaq debut price on Thursday, rekindling investor hopes for a turnaround in the moribund market for initial public offerings (IPO). The stock, which had opened at $56.10, notched a 24.68 per cent gain to close at $63.59, giving the British chip designer a valuation of $65 billion in its return to public markets following a seven-year absence. The IPO had priced at $51. Arm’s strong performance suggests that investor demand for initial public offerings, which had been hit hard over the last two years by …

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