TSMC, the world’s largest contract chip maker, plans to invest up to $100 million in Arm shares as soon as the British developers do it. Arm is a software developed for 99% of the world’s smartphone processors. A significant portion of TSMCs products is based on Arm architecture.
Using the image I’m using Pixabay.
Arms, the first public offering in the US is scheduled for this week, with shares weighing between 47 and 51 dollars. This IPO will get more than five million dollars from the company’s headquarters. The value of the company will increase by five thousand dollars from the investment. Arm, the Japanese Softbank’s largest bank, hasn’t set any final share price yet.
It looks like a huge demand for a public offer in Arms. According to Bloomberg, the IPO is ten times oversubscribed and some shares may be sold out earlier than expected. Arm plans to raise the IPO’s price range amidst the guidance.
Arm previously reported that many tech companies expressed their interest in buying up to $77 million worth of Arm shares in an IPO. TSMC, in turn, said it approved an investment in Arm in an amount not exceeding $100 million, based on the final price of its shares at the IPO.
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