Nadhim Zahawi is continuing to push the Arm London IPO

Chancellor Nadhim Zahawi has continued his bid to convince semiconductor designer Cambridge Arm to list in London.

According to The RisingZahawi has reportedly been in touch with Masayoshi Son, chief executive of Japanese conglomerate SoftBank, Arm’s parent company.

Former investment minister Lord Grimstone and former technology minister Chris Philp led the lobbying campaign to persuade SoftBank to list Arm in the capital, as did Prime Minister Boris Johnson. write to SoftBank back in May.

However, those efforts were thrown into uncertainty when Philp and more than 50 Conservative MPs resigned, prompting the departure of Boris Johnson as prime minister.

SoftBank came from this returning back of his original choice of IP New York for the Hand.

In June Mac Softbank said it had New York a “favorite” place to list the Cambridge company, as most of its customers are based there.

The Times reported that exports minister, Andrew Griffith, is helping the renewed SoftBank talks.

However, many feel that a London IPO for the Army is still out of reach.

Speaking to RATN in an exclusive interview, Hermann Hauser, co-founder of Arm comparing the situation to “trying to close the gate after the horse has bolted”. He added that the UK government should have had a golden share in the Army “a long time ago”.

The Cambridge firm is often regarded as the “crown jewel” of the UK technology industry. It designs and licenses processors that are widely used worldwide in smartphones and computers.

It was a hand acquired by Softbank in 2016 for $32bn (£23.4bn). Softbank’s plans to list the company come after the abandonment $40bn (£29.6bn) deal Buying an army earlier this year.

Last year UK tech IPOs rose a A record £6.6bndouble the size of the previous year, including Deliveroo and Moonpig.

An Army IPO would be a big vote of confidence in the London markets and a sign that the UK can attract established technology companies to its public markets.

Nadhim Zahawi is continuing to push the Arm London IPO

Source link Nadhim Zahawi is continuing to push the Arm London IPO

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