: ARM to raise up to $4.9 billion in U.S. IPO, and be valued at up to $52.3 billion

Arm Holdings Ltd. has set terms for its initial public offering in the U.S., as the U.K.-based semiconductor designer looks to raise up to $4.87 billion, and be valued at up to $52.3 billion. The company said it is offering 95.5 million American depositary shares (ADS) in the IPO, which is expected to price between $47 and $51 per ADS. The stock is expected to list on the Nasdaq under the ticker symbol “ARM.” Each ADS will represent one ordinary share. With 1.03 billion ordinary shares to be outstanding after the IPO, the IPO pricing would value the company at between $48.23 billion and $52.33 billion. Barclays, Goldman Sachs, J.P. Morgan and Mizuho are the lead underwriters. The company is looking to go public at a time of relatively strong investor interest in IPOs, as the Renaissance IPO ETF has gained 6.6% over the past three months, while the S&P 500 SPX has gained 5.7%.

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