Raspberry Pi shares are piping hot, hit 39% on LSE debut
A rare addition of a technology company to the London Stock exchange pays off
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Shares of single-board microcomputer manufacturer The Raspberry Pi Foundation hit 39% on the London Stock Exchange as the company began a “conditional dealing” phase, with shares expected to be widely available soon afterrumours began swirling in May 2024.
This rare addition of a tech company to the London Stock Exchange, which, perCNBC, has largely struggled to attract technology companies in recent years, is paying off. Shares were initially priced at 280 pence but, at the time of writing, have reached 390 pence.
The company was initially valued at £541.6 million. Available shares are split between 45.9 million available ordinary shares sold by the majority shareholder Raspberry Pi Mid Co Limited, a wholly owned subsidiary of the RPi Foundation, 2.13 million ordinary shares held by other parties, and 11.23 million new shares.
RPi on the LSE
Should demand continue to rise and impact supply, an ‘overallotement’ will allow the RPi Foundation to issue 4.6 million shares valued at £178.9 million.
We shouldn’t be surprised by this exceptional opening performance by the company. CNBC have noted that RPi revenues were up 41% year-on-year as of 2023, with the company posting $265.8 million as their earnings that year.
It’s as yet unclear as to whether the listing of a local technology company on the LSE will attract others from the UK or even further afield.
Chip giantArm, whichannounced an investment in the RPi Foundation in November 2023(and already saw its hardware used in Pi products),chose to go public on the Nasdaqin the U.S in September of that year.
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Whenwe reported on those rumorsin August of that year, theAmazon,Intel,Nvidiaand Alphabet vultures were all reportedly circling to invest.
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Luke Hughes holds the role of Staff Writer at TechRadar Pro, producing news, features and deals content across topics ranging from computing to cloud services, cybersecurity, data privacy and business software.
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