ARM’s subsidiary in China wants to become independent from the British parent company

ARM China is a subsidiary of ARM, which is based in the UK, and now wants to become an independent company from the parent company. This information is taken directly from a South China Morning Post interview with Allen Wu, CEO and President of ARM China.

Wu reports on the support ARM China provides to its British parent company as ARM prepares to list on the New York Stock Exchange, primarily due to its IPO next year, and also needs to be provided. the fiscal data and financial results of the Chinese subsidiary to complete the process, but that is still facing resistance from ARM China regarding the provision of this data.

“We support ARM’s IPO. We hope that ARM will also support ours.” Allen Wu said in an interview with the South China Morning Post.

Chairman Allen Wu hopes that ARM understands his request that ARM China operate alone, without relying on its parent company, as Wu believes the company can operate alone, even if that is not what ARM China thinks, which says the Chinese subsidiary would not. survive without your support.

“ARM has written to the Chinese authorities that ARM China will not survive without the support of the British company. But ARM China has already developed the ability to continue its operations separately from ARM in the UK,” Allen Wu told the South China Morning Post.

ARM Ltd currently owns 47% of ARM China, which is a joint venture between ARM Ltd, and Chinese investment funds including China Investment Corp, Hopu Investment and Silk Road Fund, which own 51% of the shares, which They are the ones who can decide the future of the company.

ARM China’s wish is to go public in Shanghai or Hong Kong by 2026, and even if they cannot operate separately from their parent company, they will still be able to trade their shares on a different Stock Exchange.

Source: tomshardware