Thursday, 13 June 2024

Raspberry Pi Debut Gives LSE A Welcome Boost

by BD Banks

Raspberry Pi Debut Gives LSE A Welcome Boost

During morning trade, RPI shares were up 31%, establishing a good starting point for the company as it wishes to raise £166m with its debut. Open trade is set for Friday 14 June 2024.

The firm, which makes small, single-board computers, initially priced its shares at 280p each, giving it a market value of £541.6m. On Tuesday 11 June 2024, this stock price increased to 390p apiece during morning trade.

Raspberry Pi’s IPO consists of 45.9 million ordinary shares offered by its major stakeholder, Raspberry Pi Mid Co Limited. According to CNBC, this is a “wholly owned subsidiary of the Raspberry Pi Foundation”. On top of these, there are also 2.13 million ordinary shares from other stakeholders and 11.23 million newly issued shares.


Don’t miss out the latest news, subscribe to LeapRate’s newsletter


The Raspberry Pi Foundation will reportedly exercise a greenshoe option for an additional 4.6 million shares if needed. If this over-allotment is realised, the total IPO will amount to £178.9m.

CEO Eben Upton founded Raspberry Pi in 2012. The firm’s single-board computers are versatile and have multiple uses. Based on CNBC data, Raspberry Pi sells its hardware to industries such as factories, among others.

The firm recorded revenues of $265.8m in 2023, a 41% increase from 2022.

The post Raspberry Pi Debut Gives LSE A Welcome Boost appeared first on LeapRate.

signup-banner

Loading