UK chip designer Arm is conducting its initial public offering today (Thursday, September 14th).

The company is floating on the Nasdaq, with shares priced at $51 on open. That means that Arm will boast a valuation of $52.3 billion, below the $60 billion-plus that the company had hoped for on the high end of its predictions.

The IPO will bring in $4.9 billion for SoftBank, which acquired Arm back in 2016 for $32 billion. The Japanese finance behemoth will control around 90 per cent of the company's stock once the chip designer goes public

SoftBank previously tried to sell Arm to hardware giant Nvidia back in 2020 but this deal failed to get past regulatory approval and died at the start of 2022.

Arm designs chips for some of the biggest tech companies in the world, including Google, Apple and Nvidia.