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SoftBank suspends ARM London listing plans

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Update time : 2022-07-19 13:53:52
        Due to the political turmoil of the British government, Softbank group has suspended the initial public offering (IPO) plan of its British chip technology company arm in London.
        People familiar with the matter said that after the collapse of the government led by British Prime Minister Johnson earlier this month, investment Secretary Gerry grimstone and digital secretary Chris Philp resigned, which led Softbank to suspend discussions on arm's listing in the UK next year. 
        Both ministers played a leading role in the negotiations with Softbank. The turmoil may pave the way for Softbank to seek a more direct U.S. listing. Masayoshi son, the billionaire founder of Softbank, told shareholders in June that he supported arm's listing in the United States because most of arm's customers were in the United States. Arm and the UK government declined to comment. Softbank has not commented.
 
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