Raspberry Pi to Secure $211 Million in Uncommon London Tech IPO

• On Tuesday, Raspberry Pi, a British computing startup, will launch an initial public offering in London and aims to raise £166 million ($211.2 million).
• Raspberry Pi priced its shares at 280 pence each, making tiny single-board computers.

On Tuesday, Raspberry Pi, a British computing startup, will raise £166 million ($211.2 million) through its initial public offering, marking a victory for London's main stock exchange as it struggles to attract technology listings.

Raspberry Pi, a company that produces small, affordable single-board computers, has priced its shares at 280 pence each. Once the London Stock Exchange opens, shares will become available for trading. Based on the pricing of its shares, Raspberry Pi is valued at approximately £541.6 million.

The IPO of a small tech firm could revive the struggling London stock exchange, which has been overlooked by technology companies in favor of listings in other European and American markets.

Last year, Arm, a chip designer owned by Softbank and headquartered in the U.K., opted to list in the U.S.

Raspberry Pi has received support from several prominent companies, including Arm and Sony, with Sony Semiconductor Solutions investing an undisclosed amount in the British startup last year.

Eben Upton, CEO of Raspberry, founded the company in 2012 with the goal of making computing more accessible to young people. The company's single board computers have a wide range of applications.

The company claims that 72% of its sales are directed towards the industrial market, where it is utilized in factories.

In 2022, Raspberry Pi generated $186.5 million in revenue, which increased by 41% to $265.8 million in 2023.

This breaking news story is being updated.