Softbank's Arm dashes hopes for London listing as it opts for New York

Subsequent UK listing a possibility

Softbank-backed British chip designer Arm has opted to pursue a US-only listing over a return to the London Stock Exchange, dashing the UK government’s hopes to make Britain a “science and technology superpower”.

Arm CEO Rene Haas said in a statement this morning: "After engagement with the British government and the Financial Conduct Authority over several months, SoftBank and Arm have determined that pursuing a US-only listing of Arm in 2023 is the best path forward for the company and its stakeholders." However, the firm has not ruled out a subsequent UK listing "in due course" and stressed that it plans to increase its UK presence with the opening of a new site in Bristol and continued headcount growth.  Number of UK listed companies falls 12.5% over three years "Arm is proud of its Bri...