Raspberry Pi
Raspberry Pi: Completing the first UK Tech IPO since 2021
Raspberry Pi
£179,000,000
Initial Public Offering
Joint Global Coordinator
TECHNOLOGY | jUNE 2024
In June 2024, Jefferies acted as the Joint Global Coordinator for Raspberry Pi’s $228 million Initial Public Offering. Raspberry Pi is a leading designer and developer of high-performance, low-cost single-board computers and compute modules for industrial Internet of Things (IoT) customers. The listing implied a market capitalization of ~$690m, at the top of the initial price guidance.
Given the company’s unique nature and absence of a clear peer, Jefferies worked extensively on the equity story, achieving a premium positioning for the company amongst listed IoT peers that included achieving the London Stock Exchange’s Green Economy Mark, which sparked interest from incremental ESG funds.
Jefferies ran a bespoke pre-marketing process with 30 long-only UK, US, and Nordic investors. On the first day of book building, the order book was oversubscribed multiple times and covered by long-only demand and cornerstone commitments. The transaction also included an €8 million retail offering through the REX Retail platform, generating over 7,000 separate orders.
In 2024, Jefferies acted as Joint Global Coordinator on two of the three IPOs on the London Stock Exchange’s main market. Raspberry Pi marked Jefferies’ 11th UK IPO since the beginning of 2021.
Jefferies worked extensively on the equity story, achieving a premium positioning for the company amongst listed IoT peers that included achieving the London Stock Exchange’s Green Economy Mark.
About Raspberry Pi
Raspberry Pi is a leading designer and developer of high-performance, low-cost single-board computers (“SBCs”) and compute modules for industrial IoT customers (“I&E”) and embedded uses, as well as for educators and hobbyists (“E&E”).
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