Arm likely to be listed on Nasdaq, SoftBank CEO says • The Register

Arm will most likely be listed on the US stock exchange Nasdaq, according to Masayoshi Son, chief executive of SoftBank Group, which bought the chip designer for $32 billion in 2016.

Although he stressed that no final decision had been made, Son told investors that the British chip designer was more suitable for a US listing. “Most of Arm’s customers are based in Silicon Valley and … the stock markets in the US would love to have Arm,” Son told shareholders at the company’s annual meeting.

He said there were also requests to list Arm in London without specifying where they came from. The entrepreneur did not say whether the conglomerate is considering a secondary listing for Arm there.

The CEO then spent much of the presentation building up Arm’s prospects, which may have been hurt after a proposed sale to GPU maker Nvidia fell through. Founded in 1990 and based in Cambridge, the company was listed in the UK with a secondary listing in the US before being swallowed up by the Japanese mutual fund.

Since the collapse of the Nvidia deal, Arm has become the subject of a political dispute in the UK.

That financial times reported that the Conservative UK government is considering using the National Security and Investment Act (NSIA), which went into effect earlier this year, to get SoftBank to change its mind about listing Arm exclusively on the Nasdaq in New York, as it has already been hinted at.

Arm is a valued success story in the UK technology industry. Born out of Acorn Computer – the company responsible for Britain’s hit BBC Micro PC – Arm found that the majority of mobile phones and smartphones worldwide were based on at least one processor derived from his designs.

The sale of the company to SoftBank Group reinforced the feeling that any innovation that might appear in the UK would eventually be picked up by overseas corporations. ®

https://www.theregister.com/2022/06/24/arm_nasdaq/ Arm likely to be listed on Nasdaq, SoftBank CEO says • The Register

Chrissy Callahan

World Time Todays is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@worldtimetodays.com. The content will be deleted within 24 hours.

Related Articles

Back to top button