Arm, the chip architecture firm owned by SoftBank Group, raised $4.7 billion in its initial public offering that valued the company at more than $54.5 billion.
Trading on Nasdaq debuted above the $51 a share price, starting at $56.65 a share and rising to $60.06 a share in mid-morning trading Pacific time. Arm’s stock closed at $67.96 a share.
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