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November 2, 1999

Apple Raises Another $65m From ARM Shares

By CBR Staff Writer

Apple Computer Inc has again cashed in on the soaring value of its shares in Cambridge, UK-based RISC chip designer ARM Holdings Plc and has raised around $65m from the sale of 2.1 million shares. Apple still owns 13,010,000 ARM shares that are currently worth $405m. In the past year, ARM shares have risen from 223.75 pence to a current level of 1,888 pence. With ARM chief executive Robin Saxby forecasting that its technology will be inside every digital consumer product in the world by 2010, there is more growth in the share price to come.

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