SoftBank's Arm IPO oversubscribed by six times: Report

SoftBank Group's Arm Holdings, which is seeking nearly $5 billion in its IPO, has seen investor demand that is six times the amount it is asking for, Reuters cited sources as saying. Arm's filing stated that the chipmaker will offer 95.5 million shares at a price of $47-$51. The upcoming IPO is expected to be the US' biggest in 2023.