Arm's U.S. IPO received 10 times more subscriptions than expected

News on September 12, according to people familiar with the matter, British chip design company Arm’s initial public offering (IPO) in the United States has been 10 times oversubscribed, and investment banks plan to stop accepting subscriptions by Tuesday afternoon local time.

According to foreign media citing people familiar with the matter, ARM, controlled by Japan's SoftBank Group, will stop accepting subscriptions one day early on Tuesday, but the plan to price the issued shares on Wednesday remains unchanged. It is not uncommon for a company's IPO to stop accepting subscriptions early, which usually indicates strong investor demand. Arm's initial public offering (IPO) may fetch as much as 15 times as of Wednesday, people familiar with the matter added. Oversubscribed, but nothing is set in stone yet and could change at any time

Arm representatives declined to comment.

Previously, it was reported that Arm was considering increasing the price range of the IPO issue price.

Underwriters often work to create a positive atmosphere before clients determine final pricing for an IPO. Previous reports stated that Arm’s subscription will be terminated early

The price range for Arm’s listing application is US$47 to US$51 per share. According to high-end calculations, the company’s listing valuation is expected to reach US$54.5 billion

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