Imagination Technologies, the British microchip designer, is planning to list in New York, in the latest blow to efforts to encourage more technology companies to float in the UK.
Imagination has confidentially registered to go public in New York, according to The Sunday Telegraph, following the $54 billion Nasdaq float of Arm, a larger Cambridge-based competitor, last week. The company declined to comment.
Imagination delisted from the London Stock Exchange six years ago when it was taken private by a buyout fund with links to the Chinese state.
The company, which is based in Kings Langley, Hertfordshire, has previously plotted a stock market return.
Two years ago Canyon Bridge, the US private equity firm, hired Lazard, the investment adviser, to help consider its options,