It is understood that chip company Arm will only conduct an initial public offering (IPO) in the United States, thus rejecting the British government's request for a dual listing in its domestic market.。Global investment banks are said to have valued the company in a range from $30 billion to $70 billion。According to people familiar with the matter, the median valuation of Arm is $50 billion, which is lower than its parent company, SoftBank Group Corp (SoftBank Group Corp)..) has been seeking a $60 billion valuation in the last year.。

The SoftBank Group-owned chip technology seller will focus on an IPO in New York, according to a statement Thursday。Arm will be based in Cambridge, UK, and may consider a secondary listing in London in the future。

Arm CEO Rene Haas said in a statement that after months of negotiations with the UK government and the Financial Conduct Authority, "SoftBank and Arm have determined that pursuing a US listing of Arm by 2023 is the best way forward for the company and its stakeholders."。"。

In a statement, Haas also said Arm would add a new venue in Bristol, southwest England, which would help boost its staff, a sign of its commitment to Britain.。

Arm's decision confirms an earlier media report and is a blow to Britain's efforts to keep its most famous semiconductor company close to home。Arm's technology is present in most of the world's smartphones and is gaining popularity in the electronics industry.。

In 2016, Tokyo-based SoftBank bought the business for $32 billion.。At the time, it promised UK regulators that it would create more jobs in the UK and would not relocate its headquarters.。

British Prime Minister Rishi Sunak has pushed for the company to be listed on the London Stock Exchange.。But SoftBank founder Masayoshi Son noted that the U.S. has a deeper investor base and more attractive valuations.。