Arm swans off to Nasdaq despite UK gov pleas to IPO in London
Arm has confirmed its shares will be listed only in New York following its initial public offering , dashing hopes of the UK government and others - for now at least - of a dual list on the London Stock Exchange.
Arm chief executive Rene Haas said in a statement:"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."The development, however, is seen as another blow for the FTSE 100 shares index, as London has already lost its crown as the top European trading center after the UK left the EU.
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