The highly anticipated ARM Holdings IPO got off to a flying start with the stock opening up at $56.10 in New York.
ARM’s IPO had been priced at $51 and a strong start will be encouraging not only for ARM’s investors but a raft of other tech companies preparing to come to market.
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ARM was trading at $61.23 at 17.22 BST.
The London Stock Exchange will be bitterly disappointed ARM didn’t choose London as their IPO destination given that the company is based in the UK.
That said, a successful ARM IPO will have wide-reaching benefits to confidence and could spur a wave of global listing activity.
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This is a developing story