Raspberry Pi 2 Model B Single Board Computer.
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British computing startup Raspberry Pi said on Wednesday it planned to list its shares in London, a rare win for the British stock market.
Raspberry Pi, which makes tiny single-board computers, is considering an initial public offering on the London Stock Exchange’s main market. The company said in a filing that it plans to issue a registration document disclosing its business as part of the IPO process.
The IPO is a victory for London’s stock market, which has struggled to attract high-growth technology companies. Last year, a number of large British technology companies chose to list in New York rather than London.
British chip designer arm Listing on New York’s Nasdaq in September 2023 will deal a major blow to London’s efforts to attract large technology companies to list. Recently, British retail technology pioneer Ocado faced calls from investors to move its listing location from London to New York, according to the Sunday Telegraph.
sky news report Klarna on Tuesday said it was considering New York as a preferred location for its highly anticipated IPO slated for early 2025.
The IPO is an opportunity for the Raspberry Pi Foundation, the company’s majority shareholder and a charity that promotes computer science research, to redouble its efforts to “empower young people to realize their dreams through the power of computing.” potential to achieve outstanding work”. Eben Upton, CEO and founder of Raspberry Pi.
Raspberry Pi makes the iconic eponymous line of small single-board computers that are about the size of a credit card and have been used to build everything from high altitude balloon to small radio controlled submarine.
The company is backed by Japanese consumer electronics giant sony and British chip designer Arm.
Upton launched the Raspberry Pi in 2012 to make computing more accessible to young people, and it became an early hit with hobbyists and teachers. The company has since become an even bigger business, with sales to date of 60 million units in more than 70 countries. Approximately 72% of the company’s unit sales come from commercial customers who embed its products into factories or consumer equipment.
Raspberry PI said on Wednesday that revenue for the year ending December 2023 was $265.8 million, with adjusted earnings before interest, taxes, depreciation and amortization reaching $43.5 million.
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