Tech agency Raspberry Pi to drift on London inventory change subsequent month

Tech float: Raspberry Pi sells computers to amateur coders and hobbyists

Computer maker Raspberry Pi will float on the London stock exchange next month in a major boost for the City.

The Cambridge business, which sells computers to amateur coders and hobbyists, will issue shares in an initial public offering that could value it at £500million.

It has also agreed to sell £27million of shares to semiconductor designer Arm and up to £16million to investment manager Lansdowne Partners as part of the float.

Both are existing shareholders. Chairman Martin Hellawell said the float ‘underscores our confidence in the UK as the home for innovative and growing global businesses. 

Raspberry Pi is a British computing success story. This marks the next stage in evolution of the company.’

The float will be a windfall for staff who are set to share up to £68million under an employee incentive scheme, an average of £660,000 for each worker.

Raspberry Pi, founded in 2008, makes products used by enthusiasts to make computer servers or retro games consoles.

The float will fuel hopes that the tide is starting to turn amid an exodus from the London stock market.