Raspberry Pi booms in UK stock exchange IPO
Raspberry Pi has floated its shares on the London Stock Exchange (LSE) with a 40% increase in early trading for the maker of single board computers.
“This is a watershed moment for Raspberry Pi, and the start of a new phase in our evolution,” said Eben Upton, CEO, on the IPO.
Raspberry Pi Holdings plc floated at 280p, rising to 399p before falling back to 385p at the end of trading on the first day. The initial price valued the company at £541m.
The company is a subsidiary of the Raspberry Pi Foundation, a UK charity, which remains the majority shareholder.
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“Access to the public market will enable us to build more of the products you love, faster. And the money raised by the Foundation in the IPO will support its ambitions for global impact in its second decade,” said Upton. This includes the development of its own power management devices as well as the next generation microcontrollers and CM5 compute module.
Unconditional trading to the general public will start on June 14th.
“We’ve sold over sixty million low-cost, high-performance, general-purpose computers to the enthusiasts and educators who remain at the heart of the Raspberry Pi movement, and to the industrial and embedded customers who today account for over two-thirds of our sales.”
“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,” he said.
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