The AIM-listed data company is working with Evercore Partners on plans to list its shares in New York amid growing scrutiny of the City's attractiveness, Sky News learns.
A London-listed company with a valuation of close to £1bn is preparing to list its shares in the US amid an intensifying debate about the waning attractiveness of the City to public companies.
The move is significant because of growing fears about the London market's ability to compete with the far deeper pools of capital available to companies in the US. "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," Arm chief executive Rene Haas said on Thursday.
David Richards, the company's chairman, president, chief executive and co-founder, first talked publicly about the possibility of its shares trading in the US in 2017.
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