The banks underwriting Arm’s $50bn listing will close orders for shares a day earlier than planned owing to strong demand for the biggest initial public offering in nearly two years.
People familiar with the matter said the IPO for the UK-based chip designer, which is more than five times oversubscribed, will close on Tuesday, instead of Wednesday as previously intended.
They added that shares in Arm were still expected to be priced on Wednesday, and could land towards the top end of the initial range of $47-$51 a share or even higher than that.
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