Arm, owned by Japanese technology investor SoftBank, was lobbied by three prime ministers in an effort to get it to go public on the London Stock Exchange.
A major Cambridge-based microchip designer has decided not to list on the London Stock Exchange, despite lobbying from three UK prime ministers.
Its owner, the giant Japanese technology investor SoftBank, spent $32bn buying Arm in 2016 and believes floating on the New York Stock Exchange would be the best way to recoup its investment. The decision comes despite lobbying efforts by Prime Minister Rishi Sunak and former prime ministers Liz Truss and Boris Johnson, as well as Mr Sunak's plan to"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," chief executive Rene Haas said in a statement.
Arm did also announce an expansion of its UK operations, by opening a new Bristol site, and an intent to increase headcount.
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