Britain’s Prime Minister Boris Johnson is reported to have joined the government’s efforts to list Arm in London instead of New York in Softbank, and authorities have hit the hope that the latter course of action will build a UK technology sector. I believe in giving.
Softbank is planning an initial public offering (IPO) after being blocked from trying to sell Arm to chip maker Nvidia for $ 40 billion earlier this year, and understands that it strongly supports the listing on tech-heavy Nasdaq. It has been.
The government has technology as a central pillar of its economic strategy and is keen to promote research and investment in this sector. It means that Arm’s activities in areas such as 5G, the Internet of Things (IoT), and quantum computing are considered to be particularly important in these efforts.
Arm IPO
Therefore, authorities believe that listing in the United States rather than the United Kingdom will bring a negative signal to a wider range of industries given Arm’s status as the most well-known UK-based technology company.
Arm was founded in Cambridge, headquartered and listed on the London Stock Exchange before being acquired by a Japanese conglomerate in 2016.
Johnson has joined the ministers and civil servants in lobbying, although it is believed that Softbank is unlikely to be forced to reconsider.
There are few simple regulatory changes that can be made to make the London list more attractive, Financial Times As for tech stocks, the idea that the arm is a big fish in a small pond will be strengthened in the discussion.
Softbank is pursuing an initial public offering (IPO) for Arm after the contract with Nvidia over competitive concerns collapsed. The government itself intervened in the matter before it was unplugged earlier this year.
via Financial Times