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SoftBank-owned chip designer Arm Holdings is set to achieve a valuation of up to $64.1 billion in its Nasdaq debut, surpassing its initial public offering (IPO) price. The stock is indicated to open at $60 per American Depositary Share, compared to the IPO price of $51. Arm previously secured a valuation of $54.5 billion when it priced its IPO at the top end of its marketed range. SoftBank acquired Arm for $32 billion in 2016 and has been seeking to sell some of its stake. The company’s return to public trading comes after plans to sell to chipmaker Nvidia were abandoned due to regulatory challenges. Arm’s IPO is seen as a test of investor appetite for high-growth, speculative firms in a world of higher interest rates.