Raspberry Pi, the tech company that builds internet and telco networking hardware, said if it lists it will be in London, not New York.
In a rare boost for the London stock market, which has seen companies such as UK-based tech giant ARM Holdings opt to float in the US because of the higher valuation, Raspberry Pi boss Eben Upton told the Telegraph that London was a better home for the business.
Originally planned for 2021, Raspberry Pi's listing has been held up by chip shortages and the malaise afflicting listings in London generally.
“We went and took a little bit of a look in New York. We concluded that London is the right home for a company like Raspberry Pi,” said Upton.
Known also for build-your-own PCs that also help adults and children learn to code, Raspberry Pi is said to be looking at a valuation of around £400 million.
More than 50 million Pi computers have been sold globally since the business was set up in 2012.