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Computer maker Raspberry Pi confirms LSE IPO

written by Bella Palmer

The float has been of the most highly-anticipated events of the year and is a triumph for the capital, which has struggled to attract high-profile listings this year

Computer maker Raspberry Pi confirmed on Wednesday that it plans to float on the LSE, likely in June.

The firm said it will issue new shares to raise $40 million, the net proceeds of which will be used for engineering capital expenditure, to enhance its supply chain resilience and for other general corporate purposes.

The float has been one of the most highly-anticipated events of the year and is a triumph for the capital, which has struggled to attract high-profile listings this year.

The firm is a leading designer and developer of high-performance, low-cost single board computers (SBCs) and since it began trading in 2012, it has sold 60 million SBCs and compute modules, of which 7.4 million were sold in 2023.

It has estimated its total addressable market for these products could be in the region of $21.2bn (£16.4 billion).

Semiconductor and software designer Arm has agreed to buy $35 million of shares in the IPO and Lansdowne Partners has agreed to buy up to $20 million of shares. Both are existing shareholders.

Martin Hellawell, non-executive chair of Raspberry Pi, noted: We are delighted to confirm our intention to float on the LSE, underscoring our confidence in the UK as the home for innovative and growing global businesses.

Raspberry Pi is a British computing success story, and this marks the next stage in the evolution of the firm. Through the team’s dedication to excellence in high-performance, low-cost, general-purpose computing, Raspberry Pi has been transforming the global computing landscape since its first product was launched in 2012, successfully marrying a social agenda with commercial focus, he said.

He added: The firm’s strong financial track record has enabled it to distribute $50 million to the Raspberry Pi Foundation to further their global educational mission, while providing affordable and exceptionally versatile computing platforms to support innovation by countless professional design engineers and Raspberry Pi enthusiasts around the world. We greatly appreciate the long-term support of our cornerstone investors, Arm and Lansdowne, and look forward to broadening our shareholder base as we take the next steps in our journey.


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