The brand of British semiconductor and software design company Arm is pictured on the Mobile World Congress (MWC), the telecom industry’s biggest annual gathering, in Barcelona on March 2, 2023. (Photo by Josep LAGO / AFP) (Photo by JOSEP LAGO/AFP via Getty Images)
Josep Lago | Afp | Getty Images
British chip technology firm Arm, owned by Japanese conglomerate SoftBank, said on Friday it’ll pursue a U.S.-only listing this yr, ending speculation a few primary or a secondary listing within the U.K.
Still, the corporate didn’t completely rule out an eventual London listing, saying it intended to think about a subsequent IPO there in the end, without providing further details.
Arm is the world’s biggest supplier of chip design elements utilized in smartphones, selling mental property to firms akin to Apple and Qualcomm.
“After engagement with the British Government and the Financial Conduct Authority over several months, SoftBank and Arm have determined that pursuing a U.S.-only listing of Arm in 2023 is the most effective path forward for the corporate and its stakeholders,” Arm Chief Executive Officer Rene Haas said in an announcement.
Arm said it might expand further in its home country by opening a recent site within the English city of Bristol, with plans to take care of its headquarters, operations and material IP in Britain.
