More details: See hereIf all goes according to plan, British educational computer maker, Raspberry Pi will shortly list on the London Stock Exchange (LSE) in an IPO that is expected to raise around £38 million and value the company at £500 million.
Against that backdrop, Raspberry Pi's commitment to a London IPO offers a welcome counter-narrative. London it seems, can be an attractive place to list after all. The question is, how many founder-led companies will come to the same conclusion?
The answer to that question is complicated. On the plus side, a recent survey by Lloyds Bank's Business Excellence Awards team found that British businesses were broadly positive about the U.K. markets. A snap poll of 500 companies found that 81% would choose the LSE iwere they ever in a position to seek a listing. The attraction was the perceived stability of London, with 45% feeling that international markets presented too many risks.
There is also support for London as a listing destination from beyond the U.K. Laurent Descout, is co-founder and CEO of Neo , a Barcelona-based fintech.
Not everyone agrees. Rafael S. Lajeunesse is CEO of ReachX , a platform that connects growth companies with financial advisers. "With the London stock market facing a two-decade low for listings, I would argue that it's not my choice of stock exchange and it is looking less attractive for many companies looking to go public. Brexit affected investor sentiment due to the uncertainty around Britain's exit from the European Union, leading British start-ups to flock to the New York Stock Exchange instead," he said.
So what do the UK markets offer? Tom Bacon, is a partner in law firm BCLP 's M⁘A and Corporate Finance team and an advisor on IPOs. Despite the undoubted lure of the U.S. markets, he warns that they don't necessarily represent the best option for British startups. "The data doesn't support the idea that U.K. businesses going to the U.S. have been successful," he says.
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