ARM Holdings plc lists on London Stock Exchange and NASDAQ
RISC processor developer goes public
April 17th, 1998 - ARM Holdings plc announced today the pricing of its initial public offering at £ 5.75 per share ($29.17 per American Depositary Share, or "ADS"). The total offering comprises 11,730,000 shares (3,910,000 ADSs), of which 5,865,000 shares are being offered to investors in the United States and Canada and 5,865,000 are being offered outside the United States and Canada.
The amount of the global equity offering is approximately £ 67.4 million, including a primary issue of approximately £ 33.8 million and a sale of existing shares to raise approximately £ 33.6 million for certain of ARM's shareholders. Based on the offering price, ARM's capitalisation will be approximately £ 264 million. The offering may be increased by up to 1,759,500 shares if the Underwriters' over allotment option is exercised in full.
It is expected that dealings on a conditional basis will commence on 17 April 1998 and that admission of the shares to the Official List of the London Stock Exchange will become effective, and unconditional dealings will commence, on 24 April 1998. All dealings prior to the commencement of unconditional dealings will be at the sole risk of the parties concerned. The shares will also be quoted on NASDAQ under the symbol "ARMHY" and will begin trading on April 17.
ARM designs high performance, low-cost, power-efficient RISC microprocessors and related technology and software, and sells development systems, to enhance the performance, cost-effectiveness and power-efficiency of an extensive range of embedded applications. Morgan Stanley Dean Witter is acting as Global Co-ordinator and Bookrunner for the Offering as well as Sponsor and Broker for the listing on the London Stock Exchange. Cowen Company and Hambrecht Quist are acting as co-Lead Managers.
Copies of the prospectus will be available from Morgan Stanley Dean Witter.
The amount of the global equity offering is approximately £ 67.4 million, including a primary issue of approximately £ 33.8 million and a sale of existing shares to raise approximately £ 33.6 million for certain of ARM's shareholders. Based on the offering price, ARM's capitalisation will be approximately £ 264 million. The offering may be increased by up to 1,759,500 shares if the Underwriters' over allotment option is exercised in full.
It is expected that dealings on a conditional basis will commence on 17 April 1998 and that admission of the shares to the Official List of the London Stock Exchange will become effective, and unconditional dealings will commence, on 24 April 1998. All dealings prior to the commencement of unconditional dealings will be at the sole risk of the parties concerned. The shares will also be quoted on NASDAQ under the symbol "ARMHY" and will begin trading on April 17.
ARM designs high performance, low-cost, power-efficient RISC microprocessors and related technology and software, and sells development systems, to enhance the performance, cost-effectiveness and power-efficiency of an extensive range of embedded applications. Morgan Stanley Dean Witter is acting as Global Co-ordinator and Bookrunner for the Offering as well as Sponsor and Broker for the listing on the London Stock Exchange. Cowen Company and Hambrecht Quist are acting as co-Lead Managers.
Copies of the prospectus will be available from Morgan Stanley Dean Witter.
Companies:
ARM