The company, which makes low-cost computers popular among hobbyists and educators, said it intends to publish a registration document with the London Stock Exchange, without disclosing how much it plans to raise. 

Raspberry Pi, which is controlled by a charitable foundation, is seeking a valuation of about £500 million via the listing, according to people familiar with the matter. The final amount raised will depend on market conditions.

London has fallen behind in this year’s IPO revival in Europe, which has seen big-ticket listings across the continent including skin-care firm Galderma Group AG in Switzerland, Spanish beauty and fragrance group Puig Brands SA and CVC Capital Partners Plc in the Netherlands. The UK exchange accounts for just over 2% of the $12 billion raised in IPOs in Europe this year, the lowest share in decades, according to data compiled by Bloomberg.

Raspberry Pi was previously reported to be considering a listing in early 2022. Since then, it raised money from British chipmaker Arm Holdings Plc and Sony Group Corp.’s semiconductor division. It was valued at about $560 million post the Arm investment.

“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 realize their potential through the power of computing,” Chief Executive Officer Eben Upton said in a statement.

The company, which had revenue of $265.8 million last year with an adjusted earnings before interest, taxes, depreciation, and amortization of $43.5 million, has appointed bankers at Peel Hunt and Jefferies to prepare for the listing, the company said, confirming an earlier Bloomberg report. Its IPO would be the biggest in London since Kazakhstan’s Air Astana JSC listed its global depositary receipts there in February.

This article was generated from an automated news agency feed without modifications to text.