Earn from 0.001 to 0.5 bitcoin!
Earn bitcoin easily. Invite partners and earn from 0.001 to 0.5 bitcoin. Get from 5% to 70% in bitcoins from your investment partners. Sign Up - Register

You can see previous news in the old version of the news blog. Watch

UK authorities resume talks on Arm's dual offering.

Published: 2023-01-09

Before political turmoil forced a change in the composition of the British government last year, officials were in talks with SoftBank, the Japanese corporation that controls the Arm business, to float the chipmaker in both New York and London. For the UK authorities, this would serve as a sign of investor confidence in the local stock market and would emphasize the prestige of British-born assets in the technology sector. Under a new prime minister, Rishi Sunak, negotiations resumed.

After waiting for a relative stabilization of the political situation in the country, according to the Financial Times, the UK authorities last month held talks in London with the involvement of both Arm management and SoftBank founder Masayoshi Son, who took part via videoconference. The parties returned to discussing the possibility of a dual offering of Arm's shares in both New York and London.

Sources say that representatives of the British authorities described the outcome of the talks as constructive and positive. SoftBank is prioritizing Arm's New York offering as it will raise more funds and require less overhead than a simultaneous London offering. Now we are not talking about the fact that Arm shares should return to both exchanges at the beginning of this year, SoftBank gets the opportunity to wait for a more favorable period for their placement. On the other hand, Mobileye's October IPO gives Arm owners some optimism in this regard. Masayoshi Son intends to dedicate all his time and resources to Arm in the near future, as he made it clear last November. Until 2016, the company's shares were listed on the London Stock Exchange, but then SoftBank Corporation bought the company for $32 billion. Having lost the opportunity to sell Arm's assets to the American company NVIDIA a year ago, it is now looking for other ways to raise capital.