SoftBank Group is planning to list some of its stake in chip designer Arm on the London Stock Exchange, switching from an earlier plan to only use the U.S. market, according to people familiar with the matter.

The Japanese company is adjusting plans for an initial public offering of its chip technology division and will likely still list the majority of what it offers for trading on U.S. exchanges, according to the people, who asked not to be identified because the matter hasn’t been made public. The size and timing of the sale hasn’t been finalized and plans for the listing still may change, according to the people.

Arm, which SoftBank acquired in 2016, is based in Cambridge, England. Arm was one of the United Kingdom’s most important technology companies before the purchase and still has the majority of its operations there. An IPO that would list only in the United States would be a blow to the U.K. government and capital market.