Investors are eagerly buying up shares of a British maker of tiny computers after it made its debut on the London Stock Exchange. Raspberry Pi stock jumped by as much as 40% in early trading before settling at £3.85 ($4.90), still significantly higher than its listing price. The company, known for creating small but powerful computers that can fit on a single board, was valued at nearly £542 million ($689 million) in its initial public offering.
Raspberry Pi, founded in 2012 as a commercial subsidiary of the Raspberry Pi Foundation, has gained popularity for its affordable computers that are as small as a credit card. These devices can be used in various applications, from powering smart speakers to industrial machines. The company has sold over 60 million computers globally, with a majority of its customers coming from the tech and manufacturing sectors.
The IPO raised £166 million ($211 million), making it the second-largest IPO in Britain this year. Raspberry Pi plans to use the funds to enhance its product development and educational initiatives. The company’s successful market debut is a positive development for the London Stock Exchange, which has seen companies opt for other markets like New York in recent years. Raspberry Pi’s co-founder and CEO, Eben Upton, expressed confidence in London’s investor community and its ability to support innovative technology businesses like Raspberry Pi.
The Raspberry Pi Foundation remains the company’s main shareholder, with a Sony subsidiary also holding a small stake. According to investment director Russ Mould, there is a strong demand for UK tech IPOs, and Raspberry Pi’s listing has generated significant interest among investors.