"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 best path forward for the company and its
stakeholders," Arm Chief Executive Officer Rene Haas said in a
statement.
Arm said it would expand further in its home country by
opening a new site in the English city of Bristol, with plans to
maintain its headquarters, operations and material IP in
Britain.
(Reporting by Jose Joseph and Kanjyik Ghosh in Bengaluru;
Editing by Sherry Jacob-Phillips)
March 3 (Reuters) - British chip technology firm Arm
Ltd, owned by Japanese conglomerate SoftBank Group Corp , said on Friday it will pursue a US-only listing this
year, ending speculation about a primary or a secondary listing
in the UK.
Still, the company did not completely rule out an eventual
London listing, saying it intended to consider a subsequent IPO
there in due course, without providing further details.
Arm is the world's biggest supplier of chip design elements
used in smartphones, selling intellectual property to companies
such as Apple Inc and Qualcomm Inc .
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