EARLIER this month, UK-based semiconductor company Arm said it would be pursuing its primary listing only in the US this year – taking London out of the picture.

The decision was seen by many as a blow to UK politicians, who were reportedly working hard to land the blockbuster initial public offering (IPO). Arm was dual-listed in London and on the Nasdaq before being bought out by SoftBank Group in 2016.

Arm reportedly has not ruled out a potential secondary listing in London down the road.