Arm London IPO talks paused by SoftBank

Business news |
By Peter Clarke

SoftBank Group has put plans for a London initial public offering of shares in Arm Ltd. on hold because of the change of UK government turmoil, according to the Financial Times.

The UK government had been lobbying SoftBank founder Masayoshi Son to at least contemplate a dual listing in New York and London. This reportedly included an approach from Prime Minister Boris Johnson. However, with the collapse of the Johnson administration a number of senior ministers have resigned. This has allowed SoftBank to pause discussions on the London IPO and given the impression that the lobbying effort will now lack continuity.

SoftBank may take the opportunity to go for its favoured solution of a single New York Stock Exchange listing.

But it may also be that volatility in all stock markets is giving SoftBank reason to pause. Some IPOs have been shelved recently including that of Intel subsidiary Mobileye (see Mobileye IPO on hold due market conditions, say reports).

Related links and articles:

FT report

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