(Bloomberg) — Arm Holdings Ltd. is considering raising the price range of its initial public offering after meeting investors for what would be the world’s largest listing this year, according to people familiar with the matter.
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The SoftBank Group Corp.-owned chip designer’s share sale is about six times subscribed, said the people, who asked not to be identified as the information is private. Deliberations are ongoing and no final decision has been made, the people said.
Reuters reported earlier that Arm is discussing the possibility of raising the price range and it could price the offering at the top of the range or even above. A representative for Arm declined to comment.
SoftBank shares rose as much as 2.6% and have gained about 15% this year so far.
Arm is looking to raise as much as $4.87 billion, offering 95.5 million American depositary shares for $47 to $51 each. Any price hike is a sign that there’s been strong demand during the roadshow for its stock.
The company is expected to price its share sale on Wednesday and the stock will start trading the next day.
(Updates with SoftBank shares in fourth paragraph)
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