Where Arm initially aimed for listings on the London and New York Stock Exchanges, the company is now suggesting the London Stock Exchange will remain on the left.

Since the failed takeover by Nvidia, Arm has been trying to get out of the wing of the Japanese soft bank with an IPO. “I was excited about the possibilities with Nvidia, but I’m even more excited about these plans,” Mohamed Awad, SVP and GM of Arm’s infrastructure segment, told ITdaily. “We really are in a position where we can control our own destiny. I look forward to the IPO.”

Nasdaq only

It had long been clear that this IPO would take place on the Nasdaq. For a time, however, it appeared Arm would opt for a dual IPO, with the London Stock Exchange as the second platform. Although Japanese owned, Arm is of British origin and is headquartered in Cambridge. The British government would therefore have preferred Arm to be listed on the London Stock Exchange. After Brexit, the stock exchange itself can use this good news.

But it won’t be like that. Arm has confirmed that the shares will certainly initially only come to New York’s Nasdaq. “Following discussions with the UK Government and the Financial Conduct Authority over the past few months, SoftBank and Arm have determined that the best way forward is for Arm to have an exclusive US listing in 2023,” it said in a statement. IP will remain in the UK (for now), as will the HQ. The former EU island off the Belgian coast will also have an arm site in Bristol.