Raspberry Pi to list on London Stock Exchange
written by Bella Palmer
The Cambridge business best known for selling computers to amateur coders and hobbyists has filed an intention to float and is expected to be valued at £500 million
UK tech company Raspberry Pi has said it will list on the London Stock Exchange (LSE) in a much-needed boost for the City.
The Cambridge business best known for selling computers to amateur coders and hobbyists has filed an intention to float and is expected to be valued at £500 million.
The announcement will fuel hopes the tide is starting to turn amid an exodus from the London stock market as firms are taken over by foreign buyers or list their shares elsewhere.
Gambling giant Flutter, which owns Paddy Power and Betfair, will leave the FTSE 100 this month for New York.
But the pipeline of potential floats in London includes fast-fashion chain Shein, high street stalwart Boots and diamond giant De Beers as well as Raspberry Pi.
Nonetheless, hopes of other high-profile listings have been dampened in recent years.
Chancellor Jeremy Hunt said Raspberry Pi’s plans were ‘excellent’ and show the UK is ‘open for business’.
Raspberry Pi, founded in 2008, makes products used by enthusiasts to make computer servers or retro games consoles. Profits increased from £16 million to £30 million in 2023.
Co-founder and chief executive Eben Upton said it considered a New York listing but eventually picked the UK.
And despite concerns about the health of the LSE, there is a sense that the tide might be turning.
LSE chief Julia Hoggett last week said firms are waiting for new listing rules to be implemented.
She added: We are going through the biggest rewrites of our primary market rules in 40 years and some of the reason why we have seen firms defer is that they are waiting for that rule change.
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