Arm Holdings Seeks Public Listing in the USA Only, Despite UK Government Efforts

[T0@st]

Arm Holdings, the Cambridge, UK-based chip designer, is seeking public listing solely in the USA. This major decision has struck a blow to the UK Government's efforts to encourage a dual public listing. Multiple Prime Ministers and high level staff have been in regular meetings with the Arm Executive Team. The current UK Prime Minister Rishi Sunak met with Arm's CEO Rene Haas and SoftBank's founder and Chief Executive Masayoshi Son back in January of this year. It was reported that the meeting was a last ditch attempt to secure an application for UK listing from both companies. Arm Senior Team members have also been in talks with representatives from the London Stock Exchange.



Rene Haas, the Chief Executive of Arm, said in a statement on March 3rd: "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."

Arm, which is the world's biggest supplier of chip design elements used in products from smartphones to games consoles, pledged to keep its headquarters, operations and "material intellectual property" in the UK. The company also outlined its plans to expand its operations in the UK, with a future campus in Bristol and subsequent increase of worker numbers. "Arm is proud of its British heritage, and continues to work with the British government," the company said. "We will continue to invest and play a significant role in the British tech ecosystem."



Arm's $40 billion sale to GPU juggernaut NVIDIA was nullified in February 2022, due to "significant regulatory challenges." It was then decided to seek an IPO after the NVIDIA deal fell through, and soon thereafter Softbank executives started to set their sights on the US Nasdaq.
Arm Holdings was previously publicly listed in both US and UK markets, prior to its takeover by Japan's Softbank in mid-2016.

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[clopezi]

It's sad, but...enjoy brexit

 

[Daven]

I wonder what the difference would make between the UK stock exchanges and the NASDAQ?

 

[clopezi]

I wonder what the difference would make between the UK stock exchanges and the NASDAQ?

The british money has been fluctuating a lot in the last months, isolated and "small" country in a globalized World.

 

[Muser99]

The british money has been fluctuating a lot in the last months, isolated and "small" country in a globalized World.

Yet free of EU decline.

 

[clopezi]

Yet free of EU decline.

Yes of course, free to have no vegetables on the supermarket and free to have the worst public health system in Europe, how much freedom! Almost paradise, that the reason because almost none of the retired people go living to Spain, Portugal, Italy...

 

[Fluffmeister]

Yes of course, free to have no vegetables on the supermarket and free to have the worst public health system in Europe, how much freedom! Almost paradise, that the reason because almost none of the retired people go living to Spain, Portugal, Italy...

As long as you aren't bitter about it.

 

[blacksea76]

Yet free of EU decline.

What are you talking about matey? Some empty supermarket shelves, customs bureaucracy, no one to pick our vegetables from fields, the most expensive energy prices in the world probably, incompetent governments one after another, shall I go on? Are you sure you live here in the UK? Because I just visited the mainland and they are doing much better than us wtf.
I had to edit because I forgot to add the recent triumph of Britishvolt, no wonder Arm is keeping their distance.

 

[TumbleGeorge]

no one to pick our vegetables from fields

Get work with it. I know that physical work is not for the British and you can get tired and even increase your muscle tone without having to pay in a gym and eat special supplements.

 

[Fluffmeister]

no wonder Arm is keeping their distance.

Arm, which is the world's biggest supplier of chip design elements used in products from smartphones to games consoles, pledged to keep its headquarters, operations and "material intellectual property" in the UK.
The company also outlined its plans to expand its operations in the UK, with a future campus in Bristol and subsequent increase of worker numbers. "Arm is proud of its British heritage, and continues to work with the British government," the company said. "We will continue to invest and play a significant role in the British tech ecosystem."

British start up now powers everything, can't blame SoftBank for wanting more cash, it comes back via investment anyway.

 

[Muser99]

What are you talking about matey? Some empty supermarket shelves, customs bureaucracy, no one to pick our vegetables from fields, the most expensive energy prices in the world probably, incompetent governments one after another, shall I go on? Are you sure you live here in the UK? Because I just visited the mainland and they are doing much better than us wtf.
I had to edit because I forgot to add the recent triumph of Britishvolt, no wonder Arm is keeping their distance.

When do you leave?

 

[Ferrum Master]

Yet free of EU decline.

Of what?

 

[Krisbro]

It's sad, but...enjoy brexit

It was very strange how ARM was offered ti be sold by the UK government the following day after brexit. Keeping ARM British is a way to remain a sovereign, not being sold off not selling out. This was done while the UK was still an EU member

Yes of course, free to have no vegetables on the supermarket and free to have the worst public health system in Europe, how much freedom! Almost paradise, that the reason because almost none of the retired people go living to Spain, Portugal, Italy...

Surely we should be able to grow our own vegetables to keep independent. Growing our own food is a basic thing and part of food sovereignty and we only trade with higher value products.

What are you talking about matey? Some empty supermarket shelves, customs bureaucracy, no one to pick our vegetables from fields, the most expensive energy prices in the world probably, incompetent governments one after another, shall I go on? Are you sure you live here in the UK? Because I just visited the mainland and they are doing much better than us wtf.
I had to edit because I forgot to add the recent triumph of Britishvolt, no wonder Arm is keeping their distance.

Surely there's plenty of people to pick vegetables in the UK, just enforce it's at least the minimum wage and not slave labour for workers, or are you for slave labour? If we are to be a true sovereign nation again where politicians represent the people and not global elites, then I propose ditching the ban on petrol and diesel cars by 2030 as its a scam to make private transport a luxury only for the rich.

Of what?

Germany is experiencing rising energy costs for heavy industry and people are having trouble affording to heat their homes

 

[blacksea76]

Surely there's plenty of people to pick vegetables in the UK, just enforce it's at least the minimum wage and not slave labour for workers, or are you for slave labour? If we are to be a true sovereign nation again where politicians represent the people and not global elites, then I propose ditching the ban on petrol and diesel cars by 2030 as its a scam to make private transport a luxury only for the rich.

There are not. Period. Dot. Very hard work that ruins your back and knees and it is not paid enough. I would like to see a survey done by someone, anyone, on some high streets asking 20yr olds if they would do that work for £10/hr. I bet I can anticipate the answer: buzz off mate.
About that subject about the politicians...… you can see already who they represent, when they introduce a windfall tax on energy suppliers with loopholes so that they don't pay a penny whilst the regular Joe pays through the nose for gas and electricity whilst the suppliers make billions. I guess the energy crisis is just for normal people.
Ditching combustion engine cars is indeed a stupid move, with the battery technology not advancing quick enough to make it cheap. I hope the ban does not include hybrid cars and its only for the classic engines.