A computer company has confirmed plans to list on the London Stock Exchange, potentially valuing it at a reported £500m.
Cambridge-based Raspberry Pi is known for developing affordable credit card-sized computers designed to improve children’s coding skills.
The company said it would consider an initial public offering (IPO) on the main market of the London Stock Exchange.
If realized, it could boost London’s sluggish stock market, which has been battered by a number of British-listed companies being taken over or exiled.
Raspberry Pi was founded in 2008 by computer scientist Eben Upton, and the first product was released in 2012.
Since then, the company has sold more than 60 million single-board computers alone.
“Raspberry Pi enthusiasts will know that the next stage of our development will provide unprecedented opportunities for creativity and innovation,” said Upton, a Cambridge University graduate.
“Our commitment to low-cost computing remains a fundamental part of what makes Raspberry Pi special.
“In an increasingly connected world, the market for Raspberry Pi’s high-performance, low-cost computing platform continues to grow.
“We have a roadmap for technology that will play an increasingly important role and we are excited to embark on the next phase of growth.”
The group is a subsidiary of the Raspberry Pi Foundation, a British charity founded in 2008.
The foundation has received approximately US$50 million (£39.7 million) in dividends since 2013, which have been used to further its global education mission, the group said.
“For our patient and supportive shareholders, the Raspberry Pi Foundation, this IPO doubles down on their great work in enabling young people to realize their potential through the power of computing,” said Upton. It brings opportunities.”
“We are extremely grateful for their support on our journey thus far and are pleased that the Foundation will continue to be a major shareholder.”
Raspberry Pi reported revenue of US$265.8m (£211.1m) and operating profit of US$37.5m (£29.8m) in 2023.
The company said it plans to obtain the London Stock Exchange’s Green Economy Mark when it goes public.
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