Arm closes IPO, full exercise of underwriters' option to purchase ADSS

Arm said the investors have indicated an interest in buying a total of US$735mil of the stock being sold in the offering. — Reuters

KUALA LUMPUR: Arm Holdings plc (Arm) announced the closing of its initial public offering (IPO) of 102.5 million American depositary shares (ADSs), representing its ordinary shares, at a price to the public of US$51.00 per ADS. (US$1=RM4.69)

In a statement, Arm said it included the underwriters’ full exercise of their option to purchase up to an additional seven million ADSs to cover over-allotments.