The company’s shares popped 32% after its IPO pricing
Who would have thought that Raspberry Pi, the maker of the tiny, cheap, single-board computers, would become a public company? Yet, this is exactly what’s happening: Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate.
Shortly after that, the company’s shares jumped a nice 32% to £3.70. It means that Raspberry Pi could end up raising more than $200 million during its IPO process.
Retail investors will soon be able to trade Raspberry Pi shares, starting this Friday, as the company’s shares are currently limited to institutional shareholders.
This listing is a significant win for the London stock market, which has seen many U.K. tech companies opt for U.S. listings due to higher liquidity.
Raspberry Pi, renowned for its affordable, low-power ARM-based computers, has gained popularity among tech hobbyists and industrial companies alike. The industrial and embedded segment now accounts for 72% of its sales. Since its inception, Raspberry Pi has sold 60 million units, generating $266 million in revenue and $66 million in gross profit in 2023.
Raspberry Pi Ltd, the commercial subsidiary of the Raspberry Pi Foundation, aims to make coding accessible with its low-cost computers. The Foundation remains the main shareholder, alongside strategic investors like ARM and Sony Semiconductor Solutions Corporation. ARM has expressed intentions to increase its stake via the public listing.
