SoftBank Group hasn’t made a final decision on where to debut chip subsidiary Arm, though the Nasdaq remained the most likely venue for an initial public offering, Softbank Chairman Masayoshi Son said on Friday.
The Japanese investment giant is still considering its options and is in talks with bankers and lawyers to float Arm in the U.S. and the U.K., Son told Softbank shareholders. (For more on Softbank’s plans for Arm and the pressures facing Arm’s new CEO, Rene Haas, read this Fortune feature.)
SoftBank is weighing the listing of some of its stake in the British chip designer on the London Stock Exchange, switching from an earlier plan to only use the U.S. market, Bloomberg News has reported.
Arm, which SoftBank acquired in 2016, is based in Cambridge, England. Arm was one of the U.K.’s most important technology companies before the purchase and still has the majority of its operations there. An IPO that would list only in the U.S. would be a blow to the U.K. government and capital market.
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