SoftBank-backed arm prices IPO at $51 a share

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Arm Holdings has priced its IPO at the top end of its range, raising $4.87 billion in the largest listing of the year. The chip designer, owned by SoftBank, sold 95.5 million American depositary shares for $51 each. After the IPO, SoftBank will still control about 90% of the company’s shares. Arm’s IPO could be a catalyst for other tech startups and companies planning to go public in the US. The shares are expected to begin trading on the Nasdaq Global Select Market.

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