Raspberry Pi 2 Model B single board computer.
Olly Curtis | Future Publishing | future | getty images
British computing startup Raspberry Pi is set to raise 166 million pounds ($211.2 million) in its initial public offering, scoring a rare win on London’s main stock exchange, which has struggled to attract listings for its technology. no see.
Raspberry Pi, which makes small single-board computers, is priced at 280 pence each. Shares begin trading on the London Stock Exchange when the market opens. Based on the share price, the company is valued at approximately £541.6 million.
Although small compared to other tech companies, the IPO could give a boost to the London Stock Exchange, which has been rejected or unlisted by tech companies elsewhere in Europe, particularly those favored in the United States.
Arm, a Softbank-owned chip designer based in the UK, chose to list in the US last year.
Several major products in the industry support Raspberry Pi, including Arm and Sony. Last year, Sony Semiconductor Solutions, a subsidiary of Sony, invested an undisclosed amount in a British startup.
Raspberry CEO Eben Upton founded the company in 2012 to make computing more accessible to young people. Single board computers can be used to power a variety of applications.
Although it initially attracted interest from hobbyists, the company said 72% of its sales are aimed at the industrial market, where it is used in factories and other places.
In 2023, Raspberry Pi recorded sales of $265.8 million, a 41% increase over 2022.
This breaking news story is being updated.
