Cambridge-based Arm files papers to list in New York after opting against London, in a blow to the UK.
British microchip designing giant Arm has announced it has filed paperwork to sell its shares in the US.
Its chip design instructions and technologies are used by manufacturers like the Taiwan Semiconductor Manufacturing Company and companies like Apple and Samsung to construct their own processors. But once the shares start to be publicly traded, prices are set by supply and demand. The value of the shares, multiplied by how many there are, gives the market value of the company.Reports in January said Prime Minister Rishi Sunak had restarted talks with Arm's owner about listing on the London Stock Exchange.The decision raised concerns that the UK market was not doing enough to attract tech company stock offerings, with US exchanges seen to offer higher profiles and valuations.
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