Softbank reportedly moves London IPO out of Arm's reach
SoftBank may have stalled plans to take its chip designing subsidiary Arm public in the UK.
The Japanese giant, founded by billionaire Masayoshi Son, had intended to list Arm on both the London Stock Exchange and New York-based NASDAQ. According to an overnight, though, Tokyo-based Softbank has at least paused work on the Brit half of that dual listing. The plan for a London listing came about, in part, by a push from soon-to-be-former UK Prime Minister Alexander Boris de Pfeffel Johnson, who saw Arm as a torchbearer for British tech and a listing in London as a symbol that the capital's stock exchange deserves global tech investors' attention.
A UK listing would also emphasize Arm's global HQ, which remains in Cambridge, England, and demonstrate the post-Brexit nation's tech and science is worth investing in.Arm is an excellent candidate for a symbolic role as the UK's digital champion, as its tech has deep roots in the country and its core business of creating chip designs that others can license and adapt has seen its IP land in literally billions of devices around the world.
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