Arm’s shares get helping hand as IPO banks weigh in
Shares of Arm Holdings rose 3 per cent on Monday after a wave of “buy” ratings from Wall Street analysts who said that the chip designer’s dominance in the smartphone market and potential for expansion into data centres could power earnings growth.
The flurry of recommendations marked the end of the quiet period for the nearly 30 banks that underwrote Arm’s initial public offering, which raised $US4.87 billion ($7.6 billion) for owner SoftBank Group last month in the biggest listing of the year.
Reuters
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