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British PM Sunak revives talks for Arm’s London IPO -FT
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(Reuters) – British Prime Minister Rishi Sunak has revived talks with Japan’s SoftBank Group Corp regarding a London listing for chip designer Arm Ltd, the Financial Times reported on Monday.
(Reuters) – British Prime Minister Rishi Sunak has revived talks with Japan’s SoftBank Group Corp regarding a London listing for chip designer Arm Ltd, the Financial Times reported on Monday.
Sunak met Arm’s Chief Executive Rene Haas last month in Downing Street and Masayoshi Son, the billionaire founder of SoftBank, joined via video, the report said, citing people familiar with the matter.
The meeting was described as “very constructive” by two people briefed on the matter, and “positive” by another, the FT reported.
Arm and SoftBank did not immediately respond to Reuters’ request for comment.
Son had told shareholders in June last year that he was in favour of a listing in the United States, where most of the British-based chip designer’s clients are based, although he stressed that no decision has been made.
(Reporting by Lavanya Ahire in Bengaluru; Editing by Savio D’Souza)
An IPO, or Initial Public Offering, is the process through which a private company offers shares to the public for the first time, allowing it to raise capital from public investors.
SoftBank Group Corp is a Japanese multinational conglomerate holding company that invests in various sectors, including technology, telecommunications, and finance, known for its significant investments in startups.
Arm Ltd is a British semiconductor and software design company, renowned for its ARM architecture, which is widely used in mobile devices and embedded systems.
A constructive meeting is one that is productive and focused on achieving specific goals, where participants engage in meaningful discussions and collaborate effectively.
Market capitalisation is the total market value of a company's outstanding shares, calculated by multiplying the current share price by the total number of shares. It reflects the company's size and market position.
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