NEW YORK -- SoftBank Group-owned chip designer Arm had a strong first day of trading on the Nasdaq exchange Thursday, closing 25% over its initial public offering price at $63.59.
IPO
SoftBank's Arm surges 25% in debut, reaching market cap of $65bn
U.K. chip designer provides sagging IPO market ray of hope
Arm CEO Rene Haas attends the initial public offering of the SoftBank Group unit at the Nasdaq exchange in New York. © Reuters
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