International law firm Bird & Bird has advised Arm Holdings plc as a cornerstone investor in Raspberry Pi plc's IPO on the Main Market of the London Stock Exchange.
Arm, a longstanding client of Bird & Bird, is a cutting-edge provider of semiconductor technology, aiming to build the future of computing with energy-efficient and high-performance IP solutions. Arm’s technology has a truly global footprint with more than 280 billion Arm-based chips shipped to date and reaching over 70% of the world’s population.
Raspberry Pi Holdings plc is a leading computing company headquartered in Cambridge, UK, making high-performance computing platforms accessible to the world at low-cost, from small and big businesses to homes and classrooms. Raspberry Pi’s products have gained global popularity and recognition for its low-cost, modular design, and diverse uses in areas like robotics, home automation, and the Internet of Things.
The Bird & Bird team was led by corporate partners Jee Ha Kim and Fiona McFarlane.
Commenting on the transaction, Jee said, “We are really pleased to have been a part of the journey and delighted for Raspberry Pi and the cornerstone investors Arm and Lansdowne Partners sharing in the success of a truly groundbreaking UK semiconductor IPO. This IPO signals a return to confidence in the London markets and lights a shining beacon for our amazing British tech startups looking to follow in the same footsteps. Our involvement in this transaction demonstrates Bird & Bird’s fantastic expertise in the semiconductor and IoT sectors and exemplifies the longstanding relationships we build with our clients. We look forward to seeing Raspberry Pi’s continuing global impact in collaboration with Arm during its second decade across computing, education, IoT, edge-AI and beyond.”
Fiona added, “We are delighted to have advised Arm in its role as a cornerstone investor to Raspberry Pi and in supporting such a successful IPO. With Raspberry Pi shares trading up more than a third on the IPO price on the first day of listing and the company achieving unicorn status within a few days of listing, it is clear that there remains strong investor appetite for technology company listings in London. There have been some important success stories with London listings this year, with newly admitted companies seeing their shares trading up on their IPO prices. While the markets are still tight, the second half of 2024 is looking more positive with candidate companies preparing to market later in the year. As green shoots emerge for the London markets following a tough period for IPOs, technology companies will certainly have a role to play in revitalising interest in what has always been an important listing destination.”
