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February 4, 1999


By CBR Staff Writer

Apple Computer Inc raised around $65m yesterday when it sold 2 million shares in ARM Holdings, the UK-based RISC chip designer. Even with the sale, ARM shares increased a further 8.7% to reach 20.48 pounds. Apple still owns 7.2 million ARM shares, currently worth $243.8m. ARM’s shares have been in strong demand since it reported earlier this week net profits for the year to December 31 were up 107.9% at 6m pounds on revenues that rose 59.2% to 42.2m pounds (CI No 3,590).

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