Raspberry Pi set for London stock market float

May 16, 2024

1 minute read

A computer firm has confirmed plans to list on the London stock market, a move that could value it at a reported £500m.

Cambridge-based Raspberry Pi is known for creating affordable credit card-sized computers designed to boost coding skills among children.

It said it would consider an initial public offering (IPO) on the London Stock Exchange’s main market.

If it goes ahead, it could boost London’s flagging stock market, which was hit by a swathe of UK-listed firms being bought out or defecting abroad.

Raspberry Pi was founded by computer scientist Eben Upton in 2008, and the first product was released in 2012.

It has since sold more than 60 million of its single board computers alone.

University of Cambridge graduate, Mr Upton, said: “Raspberry Pi enthusiasts will see the next phase of our development offer unprecedented opportunities for creativity and innovation.

“Our commitment to low-cost computing, a fundamental part of what is special about Raspberry Pi, is unchanged.

“In an ever-more-connected world, the market for Raspberry Pi’s high-performance, low-cost computing platforms continues to expand.

“We have the technology roadmap to play an increasingly significant role, and we are excited to embark on the next stage of our growth.”

The group is a subsidiary of the Raspberry Pi Foundation, a UK charity founded when the company was set up in 2008.

The foundation has received around 50 million US dollars (£39.7 million) in dividends since 2013, which has been used to advance its educational mission globally, said the group.

Mr Upton said: “For the Raspberry Pi Foundation, a patient and supportive shareholder, this IPO brings the opportunity to double down on their outstanding work to enable young people to realise their potential through the power of computing.

“We’ve hugely appreciated their support on our journey so far and are delighted that the Foundation will remain a major shareholder.”

Raspberry Pi reported revenues of 265.8 million US dollars (£211.1 million) in 2023, with operating profits of 37.5 million US dollars (£29.8 million).

The firm said that, on listing, it expected to receive the London Stock Exchange’s Green Economy Mark.

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