When British chip designer Arm starts trading on Nasdaq today, its initial public offering will mark a big win for the exchange in its decades-long rivalry with the New York Stock Exchange.for major listings, dangling incentives such as advertising time and lavish IPO parties at their headquarters to entice companies.
Arm—the biggest IPO of the year—was an especially sought-after prize. Winning its debut helps Nasdaq maintain its reputation as the preferred listing venue for semiconductor companies, and gives Nasdaq momentum that could help attract other listings as the IPO market revives.
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