Tech Float: Raspberry Pi Sells Computers to Hobbyist and Hobbyist Programmers
Computer maker Raspberry Pi will list on the London stock exchange next month, in a big boost for the City.
The Cambridge company, which sells computers to amateur and amateur programmers, will issue shares in an initial public offering that could value it at £500m.
It also agreed to sell £27m of shares to semiconductor designer Arm and up to £16m to investment manager Lansdowne Partners as part of the float.
Both are existing shareholders. Chairman Martin Hellawell said the float “underlines our confidence in the UK as the home of innovative and growing global companies”.
Raspberry Pi is a British computing success story. This marks the next stage in the company’s evolution.’
The float will be a windfall for staff who will share up to £68 million under an employee incentive scheme, an average of £660,000 for each worker.
Raspberry Pi, founded in 2008, makes products used by enthusiasts to make computer servers or retro game consoles.
The listing will fuel hopes that the tide is beginning to turn amid an exodus from the London stock market.