A Raspberry Pi 2 Model B solitary-board laptop.
Olly Curtis | Long term Publishing | Long term | Getty Pictures
British computing startup Raspberry Pi on Tuesday is set to elevate £166 million ($211.2 million) from its initial community giving, in a rare earn for London’s main inventory trade which has struggled to appeal to technology listings.
Raspberry Pi, which helps make small solitary-board pcs priced its shares at 280 pence apiece. Shares will commence trading on the London Stock Exchange at the time the marketplace opens. Primarily based on the pricing of its shares, the firm is valued at all over £541.6 million.
Though small relative to other tech companies, the IPO could breathe existence into the struggling London bourse, which has been snubbed by engineering corporations in favor or listings in other parts of Europe, and specifically in the U.S.
Softbank-owned chip designer Arm, which is headquartered in the U.K., selected to list in the U.S very last calendar year.
A range of large-profile market staples back Raspberry Pi, including Arm and Sony. Final 12 months, Sony Semiconductor Answers, a subsidiary of Sony Company, invested an undisclosed amount of money in the British startup.
Raspberry CEO Eben Upton proven the enterprise in 2012 to make computing much more accessible to younger persons. Its solitary board computer systems can be employed to electricity a entire assortment of takes advantage of.
Although it in the beginning attained traction with hobbyists, the firm claims that 72% of its device gross sales focus on the industrial market place, in which it is made use of, for illustration, in factories.
In 2023, Raspberry Pi posted revenues of $265.8 million, up 41% calendar year-on-yr from 2022.
This breaking information story is being current.