Computing firm Raspberry Pi to raise $211 million in rare London tech IPO | MuaneToraya

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A Raspberry Pi 2 Model B single-board computer.

Olly Curtis | Future Publishing | Future | Getty Images

British computing startup Raspberry Pi connected Tuesday is acceptable to rise £166 cardinal ($211.2 million) from its archetypal nationalist offering, successful a uncommon triumph for London's main banal speech which has struggled to pull exertion listings.

Raspberry Pi, which makes tiny single-board computers priced its shares astatine 280 pence apiece. Shares volition statesman trading connected the London Stock Exchange erstwhile the marketplace opens. Based connected the pricing of its shares, the institution is valued astatine astir £541.6 million.

While tiny comparative to different tech firms, the IPO could respire beingness into the struggling London bourse, which has been snubbed by exertion firms successful favour oregon listings successful different parts of Europe, and peculiarly successful the U.S.

Softbank-owned spot decorator Arm, which is headquartered successful the U.K., chose to database successful the U.S past year.

A fig of high-profile manufacture staples backmost Raspberry Pi, including Arm and Sony. Last year, Sony Semiconductor Solutions, a subsidiary of Sony Corporation, invested an undisclosed magnitude successful the British startup.

Raspberry CEO Eben Upton established the institution successful 2012 to marque computing much accessible to young people. Its azygous committee computers tin beryllium utilized to powerfulness a full scope of uses.

While it initially gained traction with hobbyists, the institution says that 72% of its portion income people the concern market, wherever it is used, for example, successful factories.

In 2023, Raspberry Pi posted revenues of $265.8 million, up 41% year-on-year from 2022.

This breaking quality communicative is being updated.