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Arm’s IPO Orders Exceed Expectations

Tesla Jumps As Analyst Predicts Boost

Tesla rallied 6% on Monday after Morgan Stanley said its Dojo supercomputer could power a near USD 600 billion surge in the electric car maker’s market value by helping speed up its foray into robotaxis and other software services.

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Today’s News

Arm Holdings Ltd.’s initial public offering has gone over the moon as it is already oversubscribed by 10 times the projected value and bankers plan to stop taking orders by noon today, reports indicate.

Arm, controlled by SoftBank Group Corp., will close its order book a day early on Tuesday, but is still planning to price its shares on Wednesday, the people said, asking not to be identified because the matter is private. It’s not uncommon for books to close early on an IPO, which often indicates a strong demand.

Based on the current situation, experts are projecting that the offering could end up as much as 15 times oversubscribed tomorrow, the people added. Nothing is finalized and the IPO orders could always change. However, multiple reports have indicated otherwise.

A representative for Arm declined to comment further as Arm is still considering raising the price range of its initial public offering as well, Bloomberg News previously reported. Arm filed for its IPO at USD 47 to USD 51 a share, which could value the company at USD 54.5 billion at the high end of the range.

Arm is a key part of the chip supply chain, designing semiconductors found in most of the world’s smartphones had sought to be valued at USD 60 billion to USD 70 billion in the IPO. SoftBank bought the Vision Fund’s stake in Arm at a valuation of over USD 64 billion. After the IPO, SoftBank will control about 90% of Arm’s shares, leaving a limited free float in the market.

Other related news include:

Arm Considers Raising Blockbuster IPO Price Range

Arm Holdings Ltd. is considering raising the price range of its initial public offering after meeting investors for what would be the world’s largest listing this year, indicated an unnamed representative.

Source: Network World

The SoftBank Group Corp.-owned chip designer’s share sale is currently soaring in subscriptions and is projected to rise further. Deliberations are still ongoing and a consensus has not been reached yet.

Arm’s IPO Valuation Raises Concerns

Arm’s Nasdaq debut was supposed to energize the anemic initial public offerings market. But its roadshow, powered by more than two dozen investment banks, looks like a hard-sell on their end. In an attempt to earn fees and de-risk from Arm parent SoftBank Group Corp., this might pose a concern to investors.

Source: Washington Post

The chip designer’s IPO shares are reportedly exceeding expectations and initial public speculations. It is now seeking to price at the top or above its range as it is estimated to be the largest IPO listing of 2023.

SoftBank’s Ties Paying Off With Arm IPO

Landing Arm Holdings Ltd.’s giant initial public offering is a coup for Mizuho Financial Group Inc., one of the four global investment banks leading this year’s biggest deal. Now the Japanese firm needs to prove that it’s more than just a one-hit wonder.

Source: The Wall Street Journal

Many within and outside of Japan’s third largest bank see winning the role as a reward by SoftBank Group Corp. founder Masayoshi Son for the decades of loyalty and financing that the lender provided to his telecom-turned-tech investment behemoth, which is selling a stake in chip designer Arm.

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Industry Dynamics

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