Raspberry Pi confirms plans for London listing

(Sharecast News) - Computer maker Raspberry Pi confirmed on Wednesday that it is planning to list on the main market of the London Stock Exchange. The company estimated that its current total addressable market (TAM) is about $21.2bn, "reflecting a substantial opportunity for it to capitalise on and sustain its strong growth trajectory".

Raspberry Pi designs and develops high-performance, low-cost single board computers (SBCs) and compute modules for industrial IoT customers and embedded uses.

Its products are sold in three principal markets: the industrial and embedded market, which in 2023 accounted for 72% of unit sales; the enthusiast and education market, which in 2023 accounted for 28% of unit sales; and the semiconductor market, which it entered in early 2021 with the launch of its first semiconductor product, the RP2040 microcontroller.

Since it began trading in 2012, it has sold more than 60m SBCs and compute modules, of which 7.4m were sold in 2023.

Chief executive Eben Upton said: "For the Raspberry Pi Foundation, a patient and supportive shareholder, this IPO brings the opportunity to double down on their outstanding work to enable young people to realise their potential through the power of computing. We've hugely appreciated their support on our journey so far and are delighted that the Foundation will remain a major shareholder. Raspberry Pi enthusiasts will see the next phase of our development offer unprecedented opportunities for creativity and innovation. Our commitment to low-cost computing, a fundamental part of what is special about Raspberry Pi, is unchanged.

"In an ever more connected world, the market for Raspberry Pi's high-performance, low-cost computing platforms continues to expand. We have the technology roadmap to play an increasingly significant role, and we are excited to embark on the next stage of our growth."