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Raspberry Pi sees strong stock market debut

Published 14/06/2024, 10:54
© Reuters Raspberry Pi sees strong stock market debut
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Proactive Investors - Raspberry Pi (LON:RPI) shares made a strong stock market debut as full trading began in London, with the share rising further.

Changing hands at 468.50 the newly listed DIY-PC firm was marked up around 14%.

It comes after Raspberry Pi’s IPO shares were priced at 280p earlier this week, which saw the offer generate £166 million of proceeds – of which £31 million was new capital – and had valued the company at £541 million.

The success of the float is being taken as a resounding endorsement of the market in London, which has in recent times struggled for new listings.

"The quality of the interactions during the marketing process has underlined our belief that London has the right calibre and sophistication of investor to support growing, ambitious technology businesses such as Raspberry Pi,” chief executive Eben Upton said in a statement on Tuesday.

“The reaction that we have received is a reflection of the world-class team that we have assembled and the strength of the loyal community with whom we have grown.”

Read more on Proactive Investors UK

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