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ARC shares more than double on first day of IPO

Thursday, 21 September 2000 at 16:00

ARC International, the microprocessor developer, got off to a heady start on Thursday on its first day of trading on the London Stock Exchange.

Shares in ARC, which were priced on Wednesday at 210p, opened at a massive 395p, not far short of double the issue price. Within a matter of hours they had succeeded in doubling their value, briefly touching a high of 457.5p.