Arm: UK chip designer shares surge in market return

Key Facts

• Image source, Getty Images Image caption, Arm Holdings chief Rene Haas at the company's market return Investors snapped up shares of UK chip designer Arm Holdings as it returned to the stock market, sending its market value to more than $60bn (£48.3bn).
• But in March, in a blow to the London stock market, Arm announced that it would move forward in the US.
• Mr Haas, who is based in the US, said the firm chose to list on the Nasdaq for its experience handling large share sales by tech firms.
• Hermann Hauser, who was involved in the development of the first Arm processor, told the BBC's Today programme that the UK's decision to leave the European Union was partly to blame for the shares being listed in the US rather than the UK, as it had affected the standing of the London Stock Exchange.

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