Raspberry Pi Shares Surge on Stock Market Debut

Raspberry Pi, the popular maker of low-cost single-board computers, saw its shares surge on its stock market debut. The strong performance reflects significant investor interest and confidence in the company's innovative technology and potential for growth. This debut marks a major milestone for Raspberry Pi, highlighting its success and the growing demand for affordable computing solutions in various sectors, including education, hobbyist projects, and industrial applications.

Raspberry Pi's credit-card sized computers have been sold in more than 70 countries

Boston Brand Media brings you the latest news - Shares in computer company Raspberry Pi surged by up to 40% after their debut on the London Stock Exchange.

The Cambridge-based firm is renowned for producing budget-friendly, credit card-sized computers aimed at enhancing coding skills among children.

On Tuesday, shares reached 392p during early trading, surpassing the initial public offering (IPO) price of 280p.

Boston Brand Media also found that, Raspberry Pi CEO Eben Upton remarked, "The positive response reflects the excellence of our world-class team."

He also attributed the success to "the robust support from our dedicated community with whom we've grown."

Mr. Upton established the company in 2008, and the first product launched in 2012.

Since then, it has sold over 60 million of its single-board computers.

The IPO terms indicated a valuation of £541.6m ($688.8m), according to the company in a stock market update. Raspberry Pi stated that the listing would generate £166m ($211m).

Shares started trading in "conditional dealing" for institutional investors and those on the London Stock Exchange, with full open trade scheduled to begin on Friday.

'There is life in the London stock market'

Kathleen Brooks, research director at brokers XTB, commented, "This indicates that the London stock market is vibrant, and companies can benefit from listing in London."

She added, "It is also a significant financial gain for the company's founders and directors."

Raspberry Pi mentioned that it plans to utilize the funds raised from the equity for engineering projects, enhancing its supply chain, and other general corporate purposes.

The company opened a store in Cambridge in 2017. Raspberry Pi's products have been sold in over 70 countries worldwide.

It is a subsidiary of the Raspberry Pi Foundation, a UK charity established in 2008 alongside the company, aiming to promote interest in computer science among young people.

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Source: BBC‍