Raspberry Pi's successful London IPO boosts stock market
- Raspberry Pi's shares soar 42% on their London stock market debut.
- The demand for the stock is high and is expected to attract more investors when it goes on general sale.
- The successful IPO is seen as a positive development for the London Stock Exchange.
Raspberry Pi had a successful debut on the London stock market, with shares soaring by over 40% on the first day of trading. The company, known for its affordable credit card-sized computers, listed at 280p a share, giving it a value of £542 million. The shares rose to 399p before closing at 385p, resulting in a market value of £745 million. This strong performance is seen as a positive sign for the London stock market, which has seen other companies leaving for foreign markets. Raspberry Pi's success is expected to encourage more tech companies to join the London stock market. The company, founded in 2012, saw profits increase from £16 million to £30 million in 2023, with products sold in 70 countries worldwide. Despite considering a New York listing, Raspberry Pi ultimately chose the UK market as its home. The IPO raised £166 million, with full trading set to begin on Friday. The company's success is attributed to its world-class team and loyal community. Raspberry Pi's foundation, a UK charity, aims to promote computer science among young people. The IPO is seen as a significant event for the London market, showcasing its ability to support ambitious technology businesses.