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Arm eyes IPO price at top range or above - Reuters

Investing.com -- Arm is closing in on attaining enough investor support to secure the fully diluted valuation of $54.5 billion it is seeking in its initial public offering at the top of its indicated range, according to a Reuters report.

The British chip designer, which is owned by Japan's SoftBank (TYO:9984) Group, may be able to price the highly-anticipated IPO at the top end -- or even above -- its stated range of $47 to $51 a share, Reuters added, citing people familiar with the matter.

Sources also told the news agency that, due to strong investor demand for the IPO, Arm is exploring possibly increasing that range to a level that could push its valuation above $54.5B. However, Arm will reportedly not be offering more shares, as SoftBank looks to maintain a 90.6% stake in the company following the flotation.

A decision on the price range may come this week, the unnamed sources told Reuters, although they warned that many investor commitments have yet to be finalized. Both Arm and SoftBank declined to comment to Reuters.

Arm is hoping to rake in roughly $5B from its sale of about 10% of the total shares outstanding, in what is expected to be the largest IPO this year.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.