Arm to fetch at least $54.5 billion valuation in IPO

Reuters exclusively reported that Arm, the chip designer owned by SoftBank Group Corp (9984.T), received enough backing from investors to secure at least the top end of the price range in its initial public offering, which would command a $54.5 billion valuation on a fully diluted basis. Reuters had reported on Sunday that this outcome was likely. After reviewing investor commitments on Tuesday, Arm decided it will only accept the top end of its indicated $47-to-$51-per-share range, or a price that is even higher, the source said.