Raspberry Pi has appointed Peel Hunt and Jefferies to prepare an IPO
for the London Stock Exchange
Riding on the success of its latest flagship Raspberry Pi 5, it seems
that Raspberry Pi, valued at around $560 million, is preparing an IPO
(Initial Public Offering) via bankers from Peel Hunt and Jefferies, as
reported by Bloomberg.
It is still early days, but Raspberry Pi is in the preliminary stages
of listing on the London Stock Exchange (LSE). Raspberry Pi has
previously considered an IPO. Way back in 2021, we reported on a
possible Spring 2022 listing, which saw Raspberry Pi valued at around
$493 million. That listing never came to be, and since then, Raspberry
Pi has raised money from both Arm Holdings Plc and Sony Group Corp (semiconductor division). Arm, of course, is the source of the Arm CPUs
used in all models of Raspberry Pi. The Sony connection stems from a
minority stake investment announced in April 2023. The investment was
made with a "view to forming a strategic collaborative Edge AI
development framework." Sony is also responsible for the manufacture of Raspberry Pi boards and products in Pencoed, South Wales.
Listing the company on the LSE doesn't mean that US investors will
not find the company. In an interview with Bloomberg, Raspberry Pi CEO
Eben Upton talks of conversations with fund managers and has come to
the understanding that there is no compelling reason that he is aware
of that keeps London-listed firms from accessing American money. The
London listing could be seen as a win for UK capital after many
companies migrated to the US.
What does this mean for the future of the Raspberry Pi? At a financial
level, it means that Raspberry Pi LTD, a private company, will make its
shares available for public purchase. So keen Raspberry Pi fans could
get themselves a slice of Raspberry Pi.
At a product level, it means that there could be more money invested
into the company, which could see more products being released. The
recently released Raspberry Pi 5, the first flagship model since the
Raspberry Pi 4 in 2019 (the longest ever wait between Raspberry Pi
models) is riding high on its success. The success of the Raspberry Pi
5 and the possibility of more investment means that we could see new
products sooner rather than later.
We have reached out to Eben Upton for comment and this story will be
updated once we have it.
https://www.tomshardware.com/raspberry-pi/raspberry-pi-appoints-london-based-bankers-for-ipo-listing-possible-big-win-for-uk-financial-capital
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