The UK minister of technology has argued that the US listing of the Cambridge-based Armed technology giant is not a measure, arguing that there is still a chance of a UK IPO.
Chris Philp talking to The Financial Times said the government is “working closely” with the semiconductor group on the upcoming IPO.
Army is expected to go public in New York ever since $ 40bn takeover of Arm drops from Nvidia.
However, the Under Secretary of State for Technology and the Digital Economy has claimed that there is no guarantee that the Army will leave the UK.
“I think the Army itself has said that the initial comments that suggested it would be a Nasdaq list would be premature,” Philp said.
The MP also noted the potential for dual listing in the UK and US, saying: “Many successful companies use this model. But it is clear that we want to promote the UK as an exclusive listing center. ”
The government was keen to extend the appeal of the London Stock Exchange to encourage promising British tech firms to stay in the UK, rather than move on to the States.
The Financial Conduct Authority (FCA) recently published a paper setting out proposed amendments to the London Stock Exchange including a simplified route for companies looking for UK listing.
Philp spoke yesterday at the opening day of London Technology Week, where he celebrated the success of the UK technology industry, in particular London ‘s position as a global hub for technology investments.
It also outlined the government’s future plans to increase UK technology growth, a new digital strategy, including encouraging universities and pension funds to increase investments in promising technology start-ups, as well as development of science, technology, engineering and mathematics (STEM) education.
Philp’s positive decline in the UK’s technological success came during a difficult period of contrast for the industry, as announced by a significant number of companies. job cuts and stuck slowing down.
Reported hand record sales last month and Softbank, which won an Army in 2016, suffered a historic loss.
Hermann HauserArmy-based co-founder Acorn Computer has said that London is “too small” and that a joint list with New York is the “natural solution”.
Tech minister argues U.S. Army enlistment is not guaranteed
Source link Tech minister argues U.S. Army enlistment is not guaranteed