BRITISH chipmaker Arm has delayed its plans for an initial public offering this year as markets are roiled by recessionary fears and soaring inflation.

Cambridge-headquartered Arm, which is owned by troubled

Japanese investment giant SoftBank, had been lined up for a return to the public markets after a blockbuster takeover deal by rival Nvidia collapsed.

However, the plans have now been put on ice with the market in turmoil and publicly listed tech firms suffering sharp falls in valuations.

"Given the state of the financial markets, it is unlikely that Arm will list in Q1 of 2023," a spokesperson told City A.M.

"However, we are well advanced in our IPO readiness process and we remain fully committed to a 2023 listing."

Bosses at the investor have been on the receiving end of a major charm offensive from ministers and London Stock Exchange officials this year, in a bid to tempt them into floating Arm on its home market of London rather than in New York.

Softbank founder and chief

Masayoshi Son has publicly favoured New York's Nasdaq exchange, however, claiming the deeper investor pool will help fetch a higher valuation.

A snub would be seen as a blow to London's global tech ambitions as it overhauls its capital markets to attract tech listings.

(c) 2022 City A.M., source Newspaper