Raspberry Pi Ltd - Cambridge, England-based maker of low-cost single board computers and compute modules - Sets price range for initial public offering in London at 260 pence to 280 pence per share, Bloomberg reports on Monday. This would give Raspberry Pi a market capitalisation of GBP500 million to GBP540 million. The IPO will move forward this month, with conditional dealings expected to start on Tuesday next week.
Raspberry Pi previously said it expects to raise USD40 million from the issue of new shares in the IPO. Additionally, existing shares representing up to a 10% stake will be sold by Raspberry Pi Foundation, the firm's majority investor. Cornerstone investors Arm Technology Investments 2 Ltd, part of computer chip designer Arm Holdings PLC, and Lansdowne Partners (UK) LLP have agreed to purchase USD35 million and up to USD20 million in the IPO, respectively.
Raspberry Pi and its shareholders are seeking to raise USD200 million, about GBP157 million, in total, according to terms seen by Bloomberg.
By Tom Waite, Alliance News editor
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