son of masayoshi: most likely Nasdaq list for Arm: SoftBank’s Masayoshi Son

SoftBank Group Corp founder and chief executive Masayoshi Son reiterated on Friday that the Japanese conglomerate is most likely to list British chip design unit Arm on the Nasdaq, stressing that no final decision has been made. .

“Most of Arm’s customers are based in Silicon Valley and … the US stock markets would love to have Arm,” Son told shareholders at the company’s annual general meeting.

Son said there were also applications to register Arm in London without specifying where they came from. The contractor did not say whether the conglomerate was considering a secondary listing for Arm there.

The Cambridge-based company was listed in Britain with a secondary listing in the United States before it was acquired by SoftBank in 2016 for $32 billion.

The 64-year-old billionaire spent much of his presentation on the business prospects of Arm, which the company pivoted to listing after an agreed sale to Nvidia collapsed.

Son is under pressure from shareholders as valuations of high-growth stocks he favors as investment targets plummet and interest rates rise, with SoftBank’s Vision Fund unit posting a record loss in May .

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SoftBank shares have fallen about a third since last year’s annual general meeting.

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