British low-cost computer hardware group Raspberry Pi saw its shares surge on its stock market debut, initially rising by 40% before settling. The company floated shares at 280p each, raising £166 million and valuing the company at £541 million. Demand pushed the peak value to £758.2 million before easing back by £20 million.
This IPO is a significant boost for the London Stock Exchange, which has seen a shortage of new listings. Notably, many UK tech firms, like Arm, have opted for rival exchanges such as New York’s Nasdaq.
Dan Coatsworth of AJ Bell hailed Raspberry Pi’s IPO as a major event for London’s market, demonstrating that the UK remains competitive for tech company listings. Raspberry Pi CEO Eben Upton emphasized that London has the right investors to support ambitious tech businesses like theirs.
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