The UK-based technology group, Raspberry Pi, is set to go public next week, aiming to raise £160 million and securing a market valuation of approximately £540 million.
According to Bloomberg, conditional trading will commence on Tuesday, June 11, with full trading expected to follow within a day or two.
After a challenging period where London IPOs dwindled and numerous companies exited the stock exchange, investors are optimistic that Raspberry Pi could signal a resurgence in listings.
Another anticipated listing is fast-fashion giant Shein, with reports suggesting the Chinese company may file for an IPO this week. If Shein moves forward with its public offering, it would be one of the largest IPOs in London, given its £52 billion valuation in 2023. This could encourage more businesses to consider going public.
Potential Upcoming IPOs in London
Monzo
Digital bank Monzo reported its first-ever annual profit on Monday, citing a 46% increase in customer acquisitions driven by word-of-mouth referrals.
CEO TS Anil has previously expressed ambitions for a Monzo IPO, stating his vision of turning the company into “a great public enterprise.” However, the company appears to be prioritizing growth, focusing on expansion into European and U.S. markets before going public.
“It is too early for us to talk about an IPO. We are incredibly well-capitalized and do not need to raise funds. Right now, our focus is on scaling the business,” Anil told City AM.
BrewDog
Craft beer manufacturer BrewDog has long been rumored to be preparing for an IPO. Co-founder and former CEO James Watt previously expressed ambitions for a public listing.
In June, Watt indicated that the UK remained the preferred location for an IPO but suggested that the company was waiting for more favorable market conditions.
However, following Watt’s recent departure, new leadership may reconsider BrewDog’s direction. The company was last valued at approximately £1.8 billion.
Klarna
Buy-now-pay-later (BNPL) giant Klarna, valued at $20 billion, has been planning an IPO for some time, hoping to capitalize on market demand before potential regulatory changes take effect.
Last month, Klarna received approval to establish a UK-based PLC, but it appears more likely to list in the U.S. rather than London.
Reports indicate that Klarna may go public in Q1 2025, with an estimated valuation of $15-20 billion.
“The decision to establish a holding company in the UK reflects the country’s legal, regulatory, and capital market strengths,” a company spokesperson noted.
Vinted
Lithuanian second-hand fashion marketplace Vinted, a unicorn startup, has been rumored to be considering an IPO after raising €200 million in a secondary share sale last year.
Valued at €3.5 billion in 2021 following its sixth funding round, CEO Thomas Plantenga previously stated that the company was “technically ready for an IPO.”
Plantenga has focused on building a sustainable business model, but with Vinted posting its first annual profit in April, the timing for a public listing may now be ideal.
McLaren
In 2017, then-CEO Michael Flewitt suggested that a McLaren IPO was a “strong possibility within three to five years.”
Since Flewitt’s departure, new CEO Michael Leiters has not publicly commented on IPO plans, but market speculation persists.
Last year, McLaren raised £700 million to strengthen its valuation and fund its EV strategy, but there are still no confirmed plans for a stock market debut.
Revolut
Revolut co-founders Nik Storonsky and Vlad Yatsenko were initially dismissive of a London IPO, citing regulatory challenges and post-Brexit concerns. However, their stance appears to be shifting.
CEO Francesca Carlesi recently left the door open for a potential London listing, telling Bloomberg that while London remains a key fintech hub, it faces increasing competition.
Revolut was last valued at $33 billion (£26 billion) in a 2021 funding round led by SoftBank and Tiger Global.
Starling Bank
Starling Bank’s former CEO and founder, Anne Boden, previously stated in 2021 that an IPO was planned within “one to two years.”
Since Boden’s departure, no IPO has materialized, but the possibility remains. With improving market conditions, the company may seek a new CEO with experience leading public companies.
Potential institutional investors may also be urging the bank to go public.
In April 2022, Starling secured £130.5 million in funding, valuing the digital bank at over £2.5 billion.
Final Thoughts
With Raspberry Pi’s upcoming IPO and the possibility of Shein following suit, London’s stock market could see a resurgence in listings. Whether Monzo, Klarna, or Revolut decide to go public next remains to be seen, but these companies could define the next wave of major IPOs in the UK.
Stay updated for more insights on upcoming IPOs and market trends!