ARM will reject a bid by Boris Johnston’s government to list itself on the London Stock Exchange.
For those not in the know, ARM is planning to go public, and the UK hoped that it would see the UK as its base. Johnston’s team are supposed to have launched a “charm offensive,” which was as contradictory as it was ineffective.
It looks like post Brexit, the London share market is not what it used to be. ARM co-founder Hermann Hauser on the BBC’s Today programme broadcast said that a co-listing with New York was the natural solution. London does not have the analyst cover for technology companies that New York.
Hauser said that while Johnson and the majority of parliament are, sadly, “technologically illiterate”, they have woken up to the fact that it is important to support local technology companies with local stock exchanges. But Hauser added: “It’s a little late for a wake-up call – but better late than never.”
In March, Bloomberg reported that SoftBank was seeking a valuation for Arm of at least $60 billion, significantly higher than the $31 billion Nvidia bid, which failed due to regulatory pressure.
Hauser said “ARM has a 95 percent market share in mobile phones and was very strong in embedded controllers. “Every PC has 10-20 ARMs in them as microcontrollers. But few people know that ARM has managed to create a processor that is as powerful as the Intel processors.”
