NEW YORK (AP) — Shares of U.K. chip designer Arm Holdings rose 10% in their stock market debut, in what is the largest initial public offering of shares in nearly two years.
Arm's offering is an important development for the IPO market, which has seen relatively few companies go public the past two years.
Nearly 400 companies went public in 2021 as the stock market rallied for a third straight year, according to IPO tracker Renaissance Capital.
Arm was previously a public company from 1998 to 2016.
Goldman is one of the lead underwriters for the Arm IPO, as well as an offering from grocery delivery service Instacart, expected next week.
Persons:
It's, Goldman Sachs, Rivian, Masayoshi Son, Softbank, Son, Rene Haas, Haas, Goldman, ___ Kageyama
Organizations:
Arm Holdings, Nasdaq, Renaissance, Federal Reserve, SoftBank, Nvidia, University of California, underwriters
Locations:
University of California Berkeley, IPOs, Wall, Tokyo