Chip Designer Arm’s IPO Was Priced for Smooth Trading Debut

SoftBank Group Corp. satisfied its ambitions for Arm Holdings Plc by raising $4.87 billion in the year 's biggest IPO.

The chip designer’s shares start trading Thursday .

At the IPO price, Arm is valued at about $54.5 billion , according to Bloomberg News .

Arm’s revenue fell about 1% to $2.68 billion for the fiscal year ended March 31 .

The chip industry is still contending with a sales slump, though, worsened by a glut of inventory.

Raine Securities LLC, which is backed by SoftBank , is also acting as financial adviser in connection with the IPO .