A Raspberry Pi 2 Mannequin B single-board laptop.
Olly Curtis | Future Publishing | Future | Getty Photos
British computing startup Raspberry Pi on Tuesday is about to boost £166 million ($211.2 million) from its preliminary public providing, in a uncommon win for London’s predominant inventory trade which has struggled to draw expertise listings.
Raspberry Pi, which makes tiny single-board computer systems priced its shares at 280 pence apiece. Shares will start buying and selling on the London Inventory Alternate as soon as the market opens. Primarily based on the pricing of its shares, the corporate is valued at round £541.6 million.
Whereas small relative to different tech companies, the IPO might breathe life into the struggling London bourse, which has been snubbed by expertise companies in favor or listings in different elements of Europe, and significantly within the U.S.
Softbank-owned chip designer Arm, which is headquartered within the U.Ok., selected to listing in the united stateslast 12 months.
Quite a few high-profile business staples again Raspberry Pi, together with Arm and Sony. Final 12 months, Sony Semiconductor Options, a subsidiary of Sony Company, invested an undisclosed quantity within the British startup.
Raspberry CEO Eben Upton established the corporate in 2012 to make computing extra accessible to younger individuals. Its single board computer systems can be utilized to energy a complete vary of makes use of.
Whereas it initially gained traction with hobbyists, the corporate says that 72% of its unit gross sales goal the economic market, the place it’s used, for instance, in factories.
In 2023, Raspberry Pi posted revenues of $265.8 million, up 41% year-on-year from 2022.
This breaking information story is being up to date.
