It's set to start trading on Thursday under the imaginative symbol "ARM." 

The U.K.-based company is listing at least 95.5 million American depository shares on the Nasdaq, and SoftBank, its current owner, will control about 90 per cent of the company's outstanding shares.

The offering is at the top of Arm's expected price range of $47 to $51.Analysts had expected that SoftBank would set a price which was a little higher to bring in more cash. However, the bankers advising SoftBank suggested a more conservative figure. Indications are that that the shares are oversubscribed by 12 times.

Arm said in its prospectus that revenue in its fiscal year that ended in March slipped less than a per cent from the prior year to $2.68 billion. Net income in fiscal 2023 dropped 22 per cent to $524 million.