The logo of British semiconductor and software design company Arm is pictured at the Mobile World Congress (MWC), the telecom industry’s biggest annual gathering, in Barcelona on March 2, 2023. (Photo by Josep LAGO / AFP) (Photo by JOSEP LAGO/AFP via Getty Images)
Josep Lago | Afp | Getty Images
British chip technology firm Arm, owned by Japanese conglomerate SoftBank, said on Friday it will pursue a U.S.-only listing this year, ending speculation about a primary or a secondary listing in the U.K.
Still, the company did not completely rule out an eventual London listing, saying it intended to consider a subsequent IPO there in due course, without providing further details.
Arm is the world’s biggest supplier of chip design elements used in smartphones, selling intellectual property to companies such as Apple and Qualcomm.
“After engagement with the British Government and the Financial Conduct Authority over several months, SoftBank and Arm have determined that pursuing a U.S.-only listing of Arm in 2023 is the best path forward for the company and its stakeholders,” Arm Chief Executive Officer Rene Haas said in a statement.
Arm said it would expand further in its home country by opening a new site in the English city of Bristol, with plans to maintain its headquarters, operations and material IP in Britain.