Secondary listing in London for ARM Holdings would show up government without a clue

Secondary listing doesn’t amount to much whatever ministers might claim, says James Moore

The Nasdaq, where the UK’s top tech players usually end up (Reuters)

It is a strange world in which securing a secondary stock market listing for a home-grown company can be characterised as a success.

Yet this is what looks set to happen with ARM Holdings, a rarity in being a globally significant tech company birthed and headquartered in the UK.

Having spent the last few years under the ownership of Japanese investor SoftBank, ARM is being lined up for a float, with the Nasdaq the red-hot favourite to emerge as the venue.