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Arm Holdings Plc gained as much as 15% in its trading debut after raising $4.87 billion in its IPO .
The chip designer, owned by SoftBank Group Corp. , sold 95.5 million American depositary shares at the top of a marketed range of $47 to $51 each.
The opening trades stand as a vindication for SoftBank ’s founder, chairman and chief executive officer.
Arm's revenue fell about 1% to $2.68 billion for the fiscal year ended March 31 .
The company’s net income jumped to $549 million in fiscal year 2022 from $388 million the previous year .
Raine Securities LLC, which is backed by SoftBank , also acted as financial adviser in connection with the IPO .
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