Proactive Investors -
- FTSE 100 to open higher
- Raspberry Pi to list on Friday
- Boots snubs London listing
7.36am: Raspberry Pi to list on Friday at top end of pricing range
Raspberry Pi, the maker of DIY computer kits, has confirmed it will undergo its IPO on Friday and will see shares listed at 280p each, confirming reports which indicated the group was eyeing the upper end of its pricing guidance.
It means the company will enter the LSE with a market capitalisation of more than £540 million, with over 45.9 million shares set to be sold by the Cambridge firm when it lists.
A further 2.1 million shares will be flogged by other shareholders of the company, while 11.2 million new shares will be issued, raising around £31.4 million.
In total, the offer size is around £166 million and represents a little over 30% of the total ordinary shares in admission.
A further 3% of shares are being held by the company and will be made available should an "over-allotment" option be exercised, bringing the total raised to £179 million.
7.20am: FTSE 100 to open higher
The FTSE 100 is looking likely to open at around 8249 up by more than 20 points this Tuesday as stocks look to bounce back from a sluggish start to the week, according to pre-market futures.
Asian markets saw a period of subdued trading as the continent remained cautious, still uncertain about what European political instability will mean for the wider world.
Asia-Pacific’s broadest index, barring Japanese shares, slipped by around 0.5%, while Chinese markets fell 1.2% after having been closed on Monday.
Overnight in the US, Apple (NASDAQ:AAPL) announced a major partnership with OpenAI to integrate ChatGPT into Siri as part of its new push into AI.
Named “Apple Intelligence”, the plans look to optimise user experiences by rewriting, suggesting, and summarising text, and even editing photos based on context or specific request
Meanwhile, London’s stock market suffered another blow when the Walgreens Boots Alliance (NASDAQ:WBA) revealed it had axed plans to list the high street pharmacy chain.
Hopes for a UK float have been swapped with plots for a sale, with private equity firms believed to be interested in the group, Bloomberg revealed.