June 11, 2024 Raspberry Pi, known for its tiny, affordable, single-board computers, has become a public company. The company priced its IPO on the London Stock Exchange at £2.80 per share ($3.60 USD) , valuing it at £542 million ($690 million USD). Shortly after the IPO, shares jumped 32% to £3.70 ($4.70 USD) , indicating strong market interest.

Retail investors will be able to buy shares starting Friday, although currently, only institutional investors can trade. This IPO is a significant win for the London stock market, which has seen other tech companies, such as Deliveroo and Wise, choose to list there.

Raspberry Pi’s computers are popular among tech hobbyists and are increasingly used by industrial companies. The company reports that the industrial and embedded segment now represents 72% of its sales. Since its inception, Raspberry Pi has sold 60 million units and generated $266 million USD in revenue and $66 million USD in gross profit in 2023 alone.

Raspberry Pi Ltd, the public company, is a commercial subsidiary of the Raspberry Pi Foundation, which aims to make coding accessible through low-cost, programmable computers. The Foundation remains the main shareholder, with strategic shareholders including ARM and Sony Semiconductor Solutions Corporation. ARM has expressed its intent to increase its stake via the public listing.