Arm reportedly prices IPO at $51 per shareSep 14, 2023
We start with some breaking news on the RM IPO Leslie Pickers got the details Leslie hey Melissa priced her IPO at 51 per
share, which is at the high end of the range, implying an offering size of approximately $4.9 billion and a fully diluted valuation. of $54.5 billion, all of that, according to a source familiar with the matter, earlier in the hour we were told that arm and its advisors were leaning toward an IPO price of $52 per
shareand that was practically built in, but in the As the hour passed with those price discussions he finally took a more conservative approach to that $51 per share which is at the high end of the range but not above it, so $51 per share for this offer one person told me familiar with the matter that There should be a release momentarily that says the number 51, but again the largest IPO in several years and it will be a highly anticipated debut when it appears on the NASDAQ tomorrow morning, okay, Leslie, thank you, Leslie picker again, at the top of the range. already earned a buy rating from Wall Street, not really surprising, while she loves to jump on this stuff.
New Street starts it off with a Buy rating, a price target of 59, what do you think this means for new issues in the pipeline? Yeah, I mean, there's a lot of clamor for new issues that we haven't seen happen before, specifically with this one, there's a lot of rumors surrounding the semi-finals. There are many rumors surrounding AI. This is not an AI company and I think it's something like that. Being thrown into the mix, people are really excited, really excited about technology, so I think the tech IPO, the whole mix is a confluence of events, so I think it's good for the IPO market, not necessarily .
I wouldn't jump into this one right now. I think IPOs just have the propensity to come out the day they come out, which is great, but I think they always received from there, but it's great for the IPO market.
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