Raspberry Pi Prepares for £500 Million IPO in London

Raspberry Pi Ltd is preparing for an initial public offering (IPO) on the London Stock Exchange, valuing the company at up to £500 million. The company, known for its low-cost miniature computers, has sold over 40 million units and diversified its offerings beyond education.

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Nitish Verma
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Raspberry Pi Prepares for £500 Million IPO in London

Raspberry Pi Prepares for £500 Million IPO in London

Raspberry Pi Ltd, the Cambridge-based tech firm known for its low-cost miniature computers, is preparing, reports for an initial public offering (IPO) on the London Stock Exchange. The company, which has helped countless children learn to code, could be valued at up to £500 million ($627 million) when it goes public in late May 2024.

Why this matters: This IPO has significant implications for the UK's Stock, market, given, shot, arm, listing, plans sector, as it showcases the country's ability to produce successful tech companies that can compete on the global stage. A successful listing could also pave the way for other British tech firms to go public, boosting the UK's economy, long, pound, business, live and creating new opportunities for investment and growth.

Founded by computer scientist Eben Upton in 2008, Raspberry Pi has become a global phenomenon since launching its first commercial product in 2012. The company's affordable, credit-card-sized computers have found widespread use in education, fostering coding skills among students worldwide. To date, Raspberry Pi has sold over 40 million units, with its fifth generation of currently on the market.

The Raspberry Pi Foundation, a charity established to empower young people through computing and digital technologies, holds a majority stake in the business. Other notable investors include chipmaking giant Arm, Sony, Lansdowne Partners, and Ezrah Charitable Trust. Sony also serves as the manufacturer of Raspberry Pi's computer boards in South Wales.

In recent years, Raspberry Pi has diversified its offerings, catering not only to the educational sector but also to businesses seeking to integrate its technology into various applications. The company's pitch to investors highlights its potential for increased product sales to businesses and international markets. Financial data from 2022 shows that Raspberry Pi generated £154 million in revenue and an operating profit of £16 million, with a of nearly 100 employees.

The upcoming IPO marks Raspberry Pi's second attempt at going public. The company had initially planned to float in 2021 but delayed the move due to worsening market conditions and global chip shortages. Now, with the IPO expected to materialize within the next ten days, Raspberry Pi is collaborating with advisory firms Peel Hunt and Jefferies to engage with .

Raspberry Pi's decision to list in London comes as a boost to the UK public markets, which have recently experienced a lack of fresh listings. The company's successful IPO could pave the way for other British tech firms to follow suit, showcasing the strength and potential of the UK's technology preparing, reports on the global stage.

Key Takeaways

  • Raspberry Pi plans to go public on London Stock Exchange in May 2024.
  • Company valuation expected to reach up to £500 million ($627 million).
  • Raspberry Pi has sold over 40 million units, with revenue of £154 million in 2022.
  • IPO could pave way for other British tech firms to go public, boosting UK economy.
  • Raspberry Pi's successful listing would showcase UK's tech sector on global stage.