© 2020 – 2024 AEA3 WEB | AEAƎ United Kingdom News
AEA3 WEB | AEAƎ United Kingdom News
Image default

Raspberry Pi shares soar in London IPO

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.

Related posts

Voi brings free e-bikes and e-scooters rides for NHS during lockdown in UK


How to get structure from unstructured data


ESET: Lazarus APT hit aero, defence sector with fake job ads