Investors rushed to buy shares of UK chip designer Arm Holdings in its return to the stock market, driving its market capitalisation to over $60bn (£48.3bn).
At the close of trading on Thursday, the shares were valued more than $63 each, an increase of nearly 25% from the $51 per share that Arm got from the transaction.
Softbank Group raised an impressive $4.87bn through the largest initial public offering of the year.
The increase in the stock price has been interpreted as a sign of belief in the company.
Susannah Streeter, head of money and markets at Hargreaves Lansdown, noted that even though there have been worries regarding the corporation's vulnerability to a variety of risks in China, that hasn't hindered a wave of optimism.
Arm, a renowned name in the British tech sector, engineers chips for products such as cell phones and game consoles. It is thought that its chips are incorporated in approximately 70% of the world's products, most notably in almost every smartphone.
Rene Haas, the CEO, declared that the business perceived extra chances for development, as investments in AI are causing a spike in interest in their commodities.
He claimed that it is impossible to operate AI without Arm and that it is just the start of what is to come.
The highly-anticipated return of Arm to the stock market was a result of extensive lobbying for it to list its shares in the UK, with its headquarters based in Cambridge.
In March, news came out that dealt a setback to the London stock market: Arm declared that it would be continuing its operations in the US.
Mr Haas, hailing from the US, declared that the company opted to list on the Nasdaq given its familiarity in dealing with substantial stock sales by tech corporations. He conveyed to the BBC that the business was open to the possibility of listing in London "in the future".
Hermann Hauser, a key figure in the creation of the first Arm processor, disclosed to the BBC's Today programme that the UK's Brexit vote had, in part, caused the company's stock to be floated on a US exchange as opposed to one in the London Stock Exchange, given its present standing.
Mr Hauser stated that having a dual listing, though desirable, was not a realistic outcome given the scale of the initial public offering and the present size of the London Stock Exchange.
Softbank revealed that 95.5 million shares had been sold at the rate of $51 per share. Consequently, the business is keeping hold of a stake of around 90%.
The firm's stock opened on Wednesday at approximately $56, resulting in a market cap of approximately $60bn.
Seven years ago, SoftBank acquired Arm in a $32bn transaction and made it a private company.
It had come to an agreement to part with Arm to American semiconductor behemoth Nvidia but the scheme was terminated in February 2020.
The sale encountered substantial regulatory obstacles in the UK, US, and EU.
Mr Haas declared that managing the politics associated with China is "challenging" yet no more difficult for Arm than for any other tech firm.
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