Raspberry Pi, a British computing startup, is set to raise a whopping £166 million ($211.2 million) from its initial public offering. The company has priced its shares at 280 pence apiece, valuing the company at around £541.6 million. While this valuation is small in comparison to other tech firms, it is a significant win for London’s main stock exchange, which has struggled to attract technology listings in recent years.
Investor Backing and Industry Support
Raspberry Pi has garnered support from high-profile industry players, including Arm and Sony. Last year, Sony Semiconductor Solutions, a subsidiary of Sony Corporation, invested in the British startup. The backing from established companies in the tech industry speaks to Raspberry Pi’s innovative and potentially disruptive technology.
Trading and Shares Allocation
Shares of Raspberry Pi will begin “conditional dealing” on the London Stock Exchange on Tuesday, with certain investors being able to trade shares during this period. The IPO comprises 45.9 million ordinary shares sold by the company’s majority shareholder, Raspberry Pi Mid Co Limited, along with 2.13 million ordinary shares sold by other shareholders and 11.23 million freshly issued shares. An overallotment option could further increase the offer size by another 4.6 million shares, bringing it up to £178.9 million.
Raspberry Pi CEO Eben Upton founded the company in 2012 with the mission of making computing more accessible to young people. While the company initially gained traction with hobbyists, it has since transitioned to targeting the industrial market, where it is being used, for instance, in factories. According to Raspberry Pi, 72% of its unit sales now target the industrial sector, showcasing the company’s adaptability and scalability.
In 2023, Raspberry Pi posted revenues of $265.8 million, marking a 41% increase from the previous year. This significant growth indicates the company’s potential for further expansion and success in the technology market. With its innovative products and growing market focus, Raspberry Pi is poised for continued growth and success in the coming years.
Raspberry Pi’s IPO represents a major milestone for the company and a rare success story for London’s stock exchange. With a strong valuation, investor backing, and a clear market focus, Raspberry Pi is well-positioned for future growth and success in the tech industry. Its innovative products and mission-driven approach set it apart from competitors and make it a compelling investment opportunity for both institutional and retail investors.
Leave a Reply