By Kyle Morris


U.K. semiconductor designer Arm said Friday that it and SoftBank Group Corp. have agreed that a U.S.-only listing for Arm in 2023 is the best path forward for the company.

The company said its decision follows engagement with the British government and the FCA over several months.

New plans to increase the U.K. presence were announced, with a new site in Bristol and headcount growth. Arm also intends to maintain its headquarters, operations and material IP in the U.K.

Arm also said it intends to consider a subsequent U.K. listing in due course.

The U.S. IPO could value the company at as much as $30 billion or more, some analysts and bankers estimate.

In 2016, SoftBank Group Corp. bought Arm for $32 billion.

SoftBank said last year that it was pursuing a public listing of Arm by March 2023. Arm shares will most likely be listed on the tech-heavy Nasdaq in the U.S. because many of Arm's customers are based in Silicon Valley, SoftBank Chief Executive Masayoshi Son said at the time.


Write to Kyle Morris at kyle.morris@dowjones.com


(END) Dow Jones Newswires

03-03-23 0608ET