British tech firm Raspberry Pi lines up £500m float

British computer business Raspberry Pi is finalising plans to float on the stock market this month in a transaction that could value it at up to £500 million.

The Cambridge-based business is best known for selling low-cost, credit-card-sized computers to help children learn to code.

The float could take place within the next ten days, according to City sources, although they cautioned that it could be delayed if market conditions deteriorate.

The company, founded by computer scientist Eben Upton, has been sounding out investors about a listing for a number of weeks. It is being advised by City firms Peel Hunt and Jefferies.

Upton founded the charitable Raspberry Pi Foundation in 2008 and launched the business in 2012.

The devices retail for as little as