Raspberry Pi Shares Surge 39%, Achieving £542M Market Cap in London IPO Debut

Jun 11, 2024, 11:11 AM

British personal computer maker Raspberry Pi has successfully raised $211 million in a rare London tech IPO. The company's shares, priced at 280p, surged by up to 39% on their first day of trading, achieving a market capitalization of £542 million. This stellar debut is expected to provide a significant boost to London's IPO market, which has been struggling in recent times. Raspberry Pi, known for its budget-friendly computers, anticipates shipping 8.4 million PCs in 2024. The IPO is set to raise $689 million.