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The British officials hope to convince Arm to float in London

The British processor architectures developer Arm was a publicly traded company until 2016. It was listed on the London Stock Exchange and had a stock exchange. The assets of Arm were purchased by SoftBank, a Japanese company, during the reign of Theresa May. However, SoftBank now plans to move them to New York. Officials are trying to convince SoftBank that Arm can be flown on the London site.

According to Nikkei Asian Review information, British authorities want to avoid the bad reputation of the US-run company. This could be caused by a listing on the New York Stock Exchange of Arms-C shares instead of London. Boris Johnson sent an email asking Softbank executives to ask Arm to list London, not New York. Unofficial records indicate that the United Kingdom is willing to raise funds to purchase Arm shares from local investors if it happens in London.

SoftBank management believes that New York is the best place to launch an Arms IPO. This is because of the high-tech assets on the market. SoftBank will be able to decide where to place an arm on its list this summer. Japanese business owners will likely expect to raise more money through an IPO, possibly up to 60 billion. SoftBank’s head stated that Arm should go public by the end this year in May.

 

The British authorities want to make London’s stock exchange attractive to new investors. However, last year saw a relaxation in the criteria for inclusion on the list of local exchanges. Some lawmakers even request that public money be used to invest in Arms capital. SoftBank intends to keep a large share after the Arms share sale, so it will need to consider the opinions of British authorities. Even if shares are placed in New York, the company will continue to operate in the United Kingdom. SoftBank has not yet made any decisions on this matter.