Arm IPO's price could top $51 per share

Chip designer Arm is reportedly "getting close" to securing enough investor support to attain the fully diluted valuation of $54.5 billion it seeks in its initial public offering, Reuters reported, citing sources familiar with the matter.
This means Arm will likely be able to price the IPO "at the top or above" the $47-to-$51-per-share range, the report said.
The sources said Arm is also discussing the possibility of raising the price range and seeking a valuation of more than $54.5 billion, in light of strong investor interest.
However, Arm will not offer more shares, as SoftBank wants to retain a 90.6% stake in Arm following the IPO, the sources said. $SPDR S&P 500 ETF(SPY.US)$ $Invesco QQQ Trust(QQQ.US)$ $S&P 500 Index(.SPX.US)$ $Dow Jones Industrial Average(.DJI.US)$ $Nasdaq Composite Index(.IXIC.US)$