Arm updates IPO filing, estimates pricing between $47 and $51 per share
Sundry Photography/iStock Editorial via Getty Images
British chip design firm Arm Holdings (ARM) updated its initial public offering filing on Tuesday and said it expects to price the offering which would value the company as much as $54B.
Arm, which is owned by Japanese tech conglomerate SoftBank (OTCPK:SFTBY), said it expects to price 95.5M shares between $47 and $51 per share, according to the updated filing.
Earlier this month, it was reported that Arm was looking at this range to price the offering at.
The price range would value Arm (ARM) between $50B and $54B and would be below the $64B valuation at which SoftBank purchased the 25% portion of the company it didn't already own last month.
The company also confirmed that several major tech companies, including Apple (AAPL), Google (GOOG) (GOOGL), AMD (AMD) and Nvidia (NVDA) will become investors in the offering.
The group, which also includes Intel (INTC), MediaTek, Samsung (OTCPK:SSNLF), Synopsys (SNPS) and Taiwan Semiconductor (TSM), have indicated an interest in "purchasing up to an aggregate of $735 million of the ADSs offered in this offering," Arm added.
Arm, which will trade under the symbol "ARM," generated $2.68B in revenue in fiscal 2023, down from $2.7B in fiscal 2022.
Net income in its most recent fiscal year came in at $524M, down from $549M in the year ago period. It had $2.2B in cash and cash equivalents at the end of fiscal 2023, up from $1.64B in fiscal 2022.
Arm was purchased by SoftBank (OTCPK:SFTBY) in 2016 for $32B.

More on Arm Holdings 

ARM is set to go public soon. The hype may not be warranted.
Stocks To Watch: Conferences And Fedspeak To Dominate Holiday-Shortened Week
Arm Holdings: Is This An Attractive IPO?
The Importance Of Arm Holdings For SoftBank Group's Valuation
Arm Holdings Begins Long-Awaited U.S. IPO Rollout
IPO Roundup: Arm Holdings, Prospect Energy Holdings and more
IPO round up: Arm Holdings, Instacart, Klaviyo and more
Arm files IPO, set to trade on Nasdaq