Shares in budget personal computer maker Raspberry Pi soared by as much as 40% on its debut as a public company in a boost for London’s tech initial public offering (IPO) market.
Raspberry Pi priced shares at 280p for its IPO, giving it a market capitalisation of £514.6m.
In a period of “conditional dealing” for institutional investors on Tuesday shares in Raspberry Pi traded at 360p at market open, reaching a high of 392p.
Cambridge-based Raspberry Pi said the IPO would raise £166m, with full open trading set to commence on Friday.
Founded in 2012, Raspberry Pi creates single-board computers that are aimed at making computing more accessible to young people and hobbyists.
Last year the company reported revenues of $265.8m (£211.1m). Raspberry Pi said that 72% of its units are deployed in industrial settings.
The listing provides a much-needed boost for the London Stock Exchange, which has struggled to recapture the highs of the 2021 tech IPO boom.
London’s IPO market has faced blows from chipmaker Arm – an investor in Raspberry Pi – opting to list in New York and UK-listed Darktrace agreeing to be acquired by US private equity firm Thoma Bravo.
The post Raspberry Pi shares soar in London IPO appeared first on UKTN.
