Yahoo Finance Arm to act as cornerstone investor for Raspberry Pi as it confirms intention to float
In a boon for London, Raspberry Pi, a leader in low-cost, high-performance computing has today confirmed its intention to float on the Main Market of the London Stock Exchange in June this year.
The company said that this morning, it expects the issuance of new shares to raise $40m (£31.4m), which it will use for engineering projects, improving its supply chain, and other general corporate purposes.
London will be breathing a sigh of relief as the update confirms Raspberry Pi’s formally announced its intention to IPO on the LSE, following months of teasing the move.
The float has been of the most highly-anticipated events of the year and is a triumph for the capital, which has struggled to attract high-profile listings in 2024.
Martin Hellawell, non-executive chair of Raspberry Pi, said: “We are delighted to confirm our intention to float on the London Stock Exchange, underscoring our confidence in the UK as the home for innovative and growing global businesses.
“Raspberry Pi is a British computing success story, and this marks the next stage in the evolution of the company. Through the team’s dedication to excellence in high-performance, low-cost, general-purpose computing, Raspberry Pi has been transforming the global computing landscape since its first product was launched in 2012, successfully marrying a social agenda with commercial focus.”
The company is a leading designer and developer of high-performance, low-cost single board computers (SBCs) and since it began trading in 2012, it has sold 60m SBCs and compute modules, of which 7.4m were sold in 2023.
It has estimated its total addressable market for these products could be in the region of $21.2bn (£16.4bn).
Raspberry Pi has gained popularity both in education but also among hobbyists and in commercial applications due to its versatility and cost-effectiveness.
“We greatly appreciate the long-term support of our cornerstone investors, Arm and Lansdowne, and look forward to widening our shareholder base as we take the next steps in our journey,” Hellawell continued.
As part of the deal, chip designer Arm and Lansdowne Partners will buy $35m (£27.5m) worth of shares and up to $20m (£15.7m) worth of shares, respectively.
Peter Davies, partner and head of developed markets strategy at Lansdowne Partners, said: “We are delighted to continue to support Raspberry Pi in its IPO. Since our initial investment three years ago, we have been incredibly impressed by the team and everything they have achieved with the business, and we are very excited about both the commercial and social impact they can continue to deliver in the future.”
Paul Williamson, senior vice president of IoT line of business, at Arm said:“With a shared vision to lower barriers to innovation and make computing accessible for everyone, Arm and Raspberry Pi are natural collaborators – and as demand for more compute and AI at the edge grows, Raspberry Pi’s solutions will continue to drive the adoption of high-performance IoT devices.
“Following our strategic investment in the business last year, we look forward to increasing our stake as Raspberry Pi steps into this new exciting chapter.”
