Business | Business News UK budget computer firm Raspberry Pi will price its shares at 280p, at the top of its estimated pricing range, in its initial public offering, it said on Tuesday. The terms suggest a valuation of £541.6 million, the company said in a stock market update.
Raspberry Pi is set to raise £166 million from the listing. Shares will begin trading on the London Stock Exchange once the market opens at 8am on June 11. Eben Upton, chief executive of Raspberry Pi, said: “The quality of the interactions during the marketing process has underlined our belief that London has the right calibre and sophistication of investor to support growing, ambitious technology businesses such as Raspberry Pi.
“The reaction that we have received is a reflection of the world-class team that we have assembled and the strength of the loyal community with whom we have grown.” The IPO has been hyped as a welcome victory for the London market, which has been hit by a swathe of UK-listed firms being bought out or defecting abroad. Paddy Power owner Flutter has moved its main stock market listing to New York while German-owned Tui approved a plan to delist from London in February, and in another blow UK chip maker Arm Holdings chose Wall Street over London for its stock market return.
It also comes amid reports that Chinese fast-fashion giant Shein is also preparing to file for a listing in London. Arm and fellow Raspberry Pi investor Lansdowne Partners have agreed to also buy 35 m.
