Tech »  Topic »  Raspberry Pi stock surges after London IPO

Raspberry Pi stock surges after London IPO


Raspberry Pi's IPO took place this morning on the London Stock Exchange. Shares were initially priced at £2.80 ($3.57), but they surged to £3.90 ($4.97) during early trading.

The £2.80 ($3.57) offer price gave the company a market capitalization of approximately £541.6 million ($690.2 million) as conditional trading got underway. The offer size came to £166 million ($211.6 million), representing 30.7 percent of the corp's ordinary shares.

Should an over-allotment option be excised – as seems likely – that final offer size would be £178.9 million ($228 million), or 33 percent of Raspberry Pi's ordinary shares.

Unconditional trading is set to start on June 14.

It is all heady stuff and a far cry from the hobbyist beginnings of the first Raspberry Pi computer, released in 2012. The credit card-sized Arm-powered device could be bought for £30 ($38 ...


Copyright of this story solely belongs to theregister.co.uk . To see the full text click HERE