Arm, the chip design firm that supplies core technology to firms including Apple and Nvidia , priced its IPO at $52 a share, according to a source familiar with the matter.
Arm is listing at least 95.5 million American depository shares on the Nasdaq, and SoftBank, its current owner, will control about 90% of the company's outstanding shares.
The offering is priced above Arm's expected price range of $47 to $51.
It's set to be the biggest technology IPO of the year.
Arm's instruction set uses less power than the x86 architecture used in PC and server chips by Intel and AMD.
Organizations:
Apple, Nvidia, Nasdaq, Google, Samsung, AMD, Intel, Taiwan Semiconductor Manufacturing Company