Linklaters Advises Raspberry Pi on its IPO and Listing

Linklaters Advises Raspberry Pi on its IPO and Listing

Raspberry Pi shares soar on stock market debut: Share price: 404.05 - As at 12.06.24 14:06:31 BST 

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Linklaters has advised Cambridge-based company, Raspberry Pi, regarding its Initial Public Offering (IPO) and its placement on the prestigious section of the London Stock Exchange (LSE). This company is at the forefront in creating and developing high-quality, affordable single board computers and computing units for industrial Internet of Things clients and applications, as well as for teachers and hobbyists across the globe. Since its inception in 2012, Raspberry Pi has successfully sold more than 60 million single board computers and computing units.

  • The Offer Price has been set at 280 pence per Ordinary Share, equating to a market capitalisation of approximately £541.6 million at the commencement of conditional dealings.
  • The Global Offer comprises: 45,935,065 Ordinary Shares being sold by the Company’s existing majority shareholder, Raspberry Pi Mid Co Limited, a wholly owned subsidiary of the Raspberry Pi Foundation (the “Principal Shareholder”); 2,125,115 Ordinary Shares sold by certain other shareholders in the Company; and 11,228,572 Ordinary Shares being issued by the Company to raise approximately £31.4 million (c. $40 million).
  • Assuming that the Over-allotment Option is exercised in full, the final offer size will be £178.9 million (c. $227.6 million), representing approximately 33.0 per cent of the Company’s Ordinary Shares.

The team was led by Linklaters’ Global Chair of Equities Jason Manketo, alongside Corporate counsels Philippa Gavey and Asad Ahmed, Capital Market’s counsel Scott James, and associates William Smith and Connor Chalmers.

They were supported by Global Head of Employment & Incentives, Alexandra Beidas and counsel Julie Sharp on employment and incentive matters and Corporate and Structured Lending partner Caroline Courtney on banking matters.

Jason Manketo commented:

“We are thrilled to have been part of Raspberry Pi’s transformative journey to the public markets in London, and to have had the opportunity to support one of the UK’s leading, home grown technology companies and the Cambridge tech ecosystem.”

Since 2012, Raspberry Pi have been crafting single-board and modular computers, constructed on the Arm architecture, and powered by the Linux operating system and claim to have sold over sixty million computers sold in the last decade.

Products from Raspberry Pi have been distributed in over 70 nations globally. This company is a part of the Raspberry Pi Foundation, a charity based in the UK, established in 2008. Its mission was to encourage young individuals to develop an interest in computer science. The Raspberry Pi is a collection of compact, single-board computers created in the United Kingdom by the Raspberry Pi Foundation, in collaboration with Broadcom.

Philip Colligan, CEO of the Raspberry Pi Foundation and Eben Upton, CEO of Raspberry Pi Trading and creator of the Raspberry Pi.

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