Arm, a British chip design company controlled by SoftBank, raised $4.87 billion in an initial public offering (IPO), writes Axios.

The company sold 95.5 million shares at $51 per share. Thus, the British developer was valued at $54.5 billion in the IPO, which is considered the largest this year.

As a reminder, the British company filed an application for an IPO on the Nasdaq stock exchange in August this year. Later, it became known that TSMC would invest up to $100 million in Arm’s IPO.

At the end of 2020, Nvidia agreed to buy Arm for $40 billion. This deal could be the largest merger in the semiconductor sector in history. However, in early 2022, the deal was scrapped due to regulatory opposition.