Raspberry Pi confirms plans for IPO on the London Stock Exchange
Quote from VATcal on 15/05/2024, 20:30Tech company Raspberry Pi has confirmed its intentions to float on the London Stock Exchange (LSE) in a significant boost to the capital's financial centre. The Cambridge-based business, famed for its affordable credit card-sized computers designed to promote coding skills in children, has announced its plans for an Initial Public Offering (IPO).
The company hopes to use the funds raised to invest in its sales arm, allowing them to expand their products into new markets, and further develop their design consultancy business. Raspberry Pi estimates a current total addressable market of around £17 billion, indicating a substantial opportunity for them to capitalise on and maintain their impressive growth trajectory. The company is reportedly seeking a valuation of £500 million in the flotation.
Details on the share pricing range, the size of the offering, and the specific stake being offered are yet to be released. However, the proposals are positive news for London's financial hub. Susannah Streeter, head of money and markets at Hargreaves Lansdown, commented that this announcement signals "an end in sight to the IPO drought," which has caused concern within the city's financial centre.
A fundraising round led by UK chip maker Arm Holdings in 2023 valued Raspberry Pi at around £444 million. The company has appointed Peel Hunt and Jefferies to advise them ahead of the potential float and plans to publish a registration document.
If the IPO proceeds, it would be a welcome boost for the London Stock Exchange, which has seen a number of UK-listed companies being acquired or choosing to list abroad. Founded by computer scientist Eben Upton in 2008, Raspberry Pi released its first product in 2012. Since then, they have sold over 60 million of their single-board computers worldwide.
Tech company Raspberry Pi has confirmed its intentions to float on the London Stock Exchange (LSE) in a significant boost to the capital's financial centre. The Cambridge-based business, famed for its affordable credit card-sized computers designed to promote coding skills in children, has announced its plans for an Initial Public Offering (IPO).
The company hopes to use the funds raised to invest in its sales arm, allowing them to expand their products into new markets, and further develop their design consultancy business. Raspberry Pi estimates a current total addressable market of around £17 billion, indicating a substantial opportunity for them to capitalise on and maintain their impressive growth trajectory. The company is reportedly seeking a valuation of £500 million in the flotation.
Details on the share pricing range, the size of the offering, and the specific stake being offered are yet to be released. However, the proposals are positive news for London's financial hub. Susannah Streeter, head of money and markets at Hargreaves Lansdown, commented that this announcement signals "an end in sight to the IPO drought," which has caused concern within the city's financial centre.
A fundraising round led by UK chip maker Arm Holdings in 2023 valued Raspberry Pi at around £444 million. The company has appointed Peel Hunt and Jefferies to advise them ahead of the potential float and plans to publish a registration document.
If the IPO proceeds, it would be a welcome boost for the London Stock Exchange, which has seen a number of UK-listed companies being acquired or choosing to list abroad. Founded by computer scientist Eben Upton in 2008, Raspberry Pi released its first product in 2012. Since then, they have sold over 60 million of their single-board computers worldwide.
