New York | Shares in SoftBank’s Arm Holdings soared almost 25 per cent above their Nasdaq debut price on Thursday (Friday AEST), rekindling investor hopes for a turnaround in the moribund market for initial public offerings (IPO).
The stock, which had opened at $US56.10, notched a 24.7 per cent gain to close at $US63.59, giving the British chip designer a valuation of $US65 billion ($100 billion) in its return to public markets following a seven-year absence. The IPO had priced at $US51.
