Raspberry Pi shares surge after successful London IPO
- Shares of Raspberry Pi jumped 40% following a successful London IPO, raising £166 million.
- The company's products are popular among amateur coders and hobbyists.
- The increase in shares marks a positive response to the listing on the London Stock Exchange.
Raspberry Pi's stock market listing in London saw a significant increase in value, with gains of 50% since its initial listing at 280p per share. The stock closed up 3.9% at 400p, valuing the company at over £800 million. The demand for the stock, set to be available to all investors soon, has been a boost for the City. The IPO has been seen as a positive development for the London market, with Raspberry Pi's shares soaring 40% on the first day of trading. The company, known for its budget computers, has strong ties to the tech sector and has received funding from major players like Sony. Raspberry Pi has sold over 60 million single board computers worldwide and reported revenues of £211.1 million in 2023. The IPO has also attracted interest from investors like Arm and Lansdowne Partners, who have committed to buying shares. The success of Raspberry Pi's listing is seen as a positive sign for the London stock market, with hopes for more IPOs to come.