SoftBank's Arm soars nearly 25% in market debut to $65 billion valuation

Sep 15 (Reuters) - Shares in SoftBank's Arm Holdings (ARM.O) soared almost 25% above their offer price in their Nasdaq debut on Thursday, valuing the British chip designer at $65 billion in its return to the public markets after seven years.

The stock opened at $56.10 per American Depositary Share compared with the initial public offering (IPO) price of $51, and closed at $63.59, notching a gain of 24.68%.

The first-day jump bodes well for companies that have been waiting to list after the IPO market collapsed due to the war in Ukraine and Federal Reserve interest rate hikes.

Arm secured a valuation of $54.5 billion on Wednesday after pricing its IPO at the top end of the marketed range, netting $4.87 billion for SoftBank (9984.T) , which still holds a 90.6% stake.

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Countdown to the New Year: Best Times to Visit Shrines for ‘Hatsumode’

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Drone Footage Reveals Izu's Abandoned Hotels

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