By Ian WalkerRaspberry Pi, the U.K. maker of low-cost computers, is expected to be worth up to 540 million pounds ($688 million) when it floats on the London Stock Exchange next week. Raspberry Pi is seeking to raise $40 million in new money which will be used to boost its supply chain and for general corporate purposes. The Raspberry Pi Foundation is expected to sell up to 10% of its shares under the IPO while Arm Technology Investments 2 and Lansdowne Partners (UK) have agreed to buy $35 million and $20 million shares, respectively. China-founded online fashion company Shein is also expected to announce this week that it has selected London for its IPO. (END) Dow Jones Newswires06-03-24 0521ETCopyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal June 03, 2024 09:25 UTC