SoftBank’s Son to sign off on Arm’s Nasdaq listing this week

SoftBank Group Corp Chief Executive Masayoshi Son will officially agree with Nasdaq this week to list British chip designer Arm Ltd, the Financial Times said on Tuesday, citing two unnamed people familiar with the situation.

A spokesperson at SoftBank, which bought Arm for $32 billion in 2016, declined to comment on Wednesday.

Arm, whose technology underpins the global smartphone industry and is used in supercomputers, said in March it would pursue a U.S.-only listing this year, ending speculation about a primary or secondary listing in the UK.

In June, Son said that Nasdaq was a favourite exchange for listing Arm, one of the sprawling conglomerate’s prize assets. Reuters