DIY personal computer maker Raspberry Pi is eyeing the top end pricing range in its upcoming initial public offering, according to a report from Bloomberg.
The terms, per the Bloomberg report, have shares priced at 280p, suggesting Raspberry Pi will net £179 million from the IPO.
Raspberry Pi’s implied valuation is therefore estimated at £540 million. The IPO is also oversubscribed, suggesting its valuation could move higher when trading commences on 14 June.
The IPO, which was confirmed last month, is being cornerstoned by Lansdown Partners and Arm Technology Investments (whose parent company, the British semiconductor giant Arm Holdings PLC (NASDAQ:ARM), provides Raspberry Pi’s processing units).
Raspberry Pi’s listing is being hyped as a shot in the arm for the London Stock Exchange.
2023 was one of the worst years for London IPOs on record, as companies skirted the capital markets amid soaring inflation and sky-high interest rates.
But with Chinese fast-fashion giant Shein reportedly preparing to file for its IPO, and rumours swirling around a handful of other potential listings, green shoots have started to emerge.