Arm Holdings Ltd’s initial public offering is already oversubscribed by 10 times and bankers plan to stop taking orders by Tuesday afternoon, according to people familiar with the matter.
Arm, controlled by SoftBank Group Corp, will close its order book a day early on Tuesday, but is still planning to price its shares on Wednesday, the people said, asking not to be identified because the matter is private. It’s not uncommon for books to close early on an IPO, which often indicates strong demand.
