Arm’s listing on NY exchange is a big wager in an uncertain market
Shares in the British chip designer Arm will be listed Thursday on New York’s Nasdaq exchange in the biggest such offering in two years, a $50 billion wager by principal shareholder SoftBank Group amid a still uncertain market.
“Nobody disputes that this is a quality company that has substantial sales, substantial profits…” said Jay Ritter, Cordell Eminent Scholar. “The question is about future growth potential.”
He added: “There doesn’t seem to be a lot of enthusiasm among institutional investors for a $50 billion valuation.”
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