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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 ...

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