(Bloomberg) — Arm Holdings Ltd. is considering raising the price range of its initial public offering after meeting with the world’s largest listed investors this year, people familiar with the matter said.
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Shares of the chip designer, owned by SoftBank Group Corp., registered a six-fold increase, according to the people, who asked not to be identified as private. The people said that consultation is continuing and no final decision has been made.
Reuters previously reported that ARM is in discussions about raising the price range and could price the supply at or above the top of the range. A representative for Arm declined to comment.
Shares of Softbank rose as much as 2.6 percent and have gained about 15 percent so far this year.
Arm is seeking to raise up to $4.87 billion, offering 95.5 million American depositary shares at $47 to $51 each. Any increase in price is a sign that there was strong demand for the stock during the roadshow.
The company is expected to price the shares on Wednesday, and the stock will begin trading the following day.
(Updates on SoftBank shares in the fourth paragraph)
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