Cambridge-based Raspberry Pi to drift on London inventory market

A pc agency has confirmed it was contemplating plans to record on the London inventory market, a transfer that might worth it at a reported £500m.

Cambridge-based Raspberry Pi is understood for creating inexpensive credit score card-sized computer systems designed to spice up coding expertise amongst kids.

It mentioned it could take into account an preliminary public providing (IPO) on the London Inventory Change’s primary market.

If it goes forward, it may enhance London’s flagging inventory market, which was hit by a swathe of UK-listed corporations being purchased out or defecting overseas.

Raspberry Pi was based by laptop scientist Eben Upton in 2008, and the primary product was launched in 2012.

It has since bought greater than 60 million of its single board computer systems alone.

College of Cambridge graduate, Mr Upton, mentioned: “Raspberry Pi lovers will see the following part of our growth supply unprecedented alternatives for creativity and innovation.

“Our dedication to low-cost computing, a elementary half of what’s particular about Raspberry Pi, is unchanged.

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

“Now we have the expertise roadmap to play an more and more important position, and we’re excited to embark on the following stage of our development.”

The group is a subsidiary of the Raspberry Pi Basis, a UK charity based when the corporate was arrange in 2008.

The inspiration has obtained round $50m (£39.7m) in dividends since 2013, which has been used to advance its academic mission globally, mentioned the group.

Mr Upton mentioned: “For the Raspberry Pi Basis, a affected person and supportive shareholder, this IPO brings the chance to double down on their excellent work to allow younger individuals to grasp their potential by the facility of computing.

“We have massively appreciated their assist on our journey to this point and are delighted that the Basis will stay a serious shareholder.”

Raspberry Pi reported revenues of $265.8m (£211.1m) in 2023, with working income of $37.5m (£29.8m).

The agency mentioned that, on itemizing, it anticipated to obtain the London Inventory Change’s Inexperienced Financial system Mark.