Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Raspberry Pi Shares Surge on London Debut, Sparking Market Optimism

by June 12, 2024
June 12, 2024
Raspberry Pi Shares Surge on London Debut, Sparking Market Optimism

In a significant boost to the UK stock market, shares in Raspberry Pi, the Cambridge-based maker of low-cost micro-computers, surged by more than a third on their first day of trading on the London Stock Exchange.

The stock jumped from a listing price of 280p to 385p, marking a 37.2% increase and valuing the 15-year-old company at over £750 million.

The enthusiastic reception for Raspberry Pi’s initial public offering (IPO) has reignited hopes that the UK market can regain its competitive edge against international rivals. The floatation saw strong backing from cornerstone investors, including Arm Holdings and Lansdowne Partners, which committed £27 million and £16 million, respectively. Retail investors will be able to start trading Raspberry Pi shares on Friday.

Raspberry Pi aims to raise £166 million from the listing, with its staff set to gain £68 million through an employee incentive scheme, equating to approximately £660,000 per worker. Eben Upton, the 46-year-old CEO of Raspberry Pi, praised UK investors’ understanding and support, hoping this successful float would dispel misconceptions about the UK market’s capability compared to the US.

The IPO comes at a crucial time for the London Stock Exchange, which has seen prominent companies like Arm Holdings and Flutter move their primary listings to New York. However, Upton expressed confidence in the UK market, noting the benefits of being in their home market and the positive response from investors during the nine-month roadshow leading up to the float.

Founded in 2008, Raspberry Pi was born out of Upton’s desire to inspire interest in computer science among young people. The company’s affordable, credit card-sized computers have since found wide-ranging applications, particularly in the industrial electronics market, where they are used by over 1,300 companies.

The proceeds from the IPO will be used to fund engineering projects, improve the supply chain, and support other corporate purposes. Kathleen Brooks, research director at XTB, described the IPO’s warm reception as a positive signal for the London stock market, suggesting it could encourage more companies to list in the UK.

Raspberry Pi’s float may also boost confidence in the City’s IPO market, which has been subdued due to rising interest rates and cautious investor sentiment. Analysts at Peel Hunt highlighted the significance of Raspberry Pi’s listing, indicating it could positively impact the broader market. The improving economic outlook for the UK, coupled with strong performances in banking, mining, and energy sectors, is expected to support the IPO market moving forward.

Additionally, companies like Klarna, Waterstones, and Starling Bank are anticipated to consider IPOs, buoyed by the improving market conditions. Despite ongoing challenges, such as low valuations and liquidity issues, Raspberry Pi’s successful float represents a beacon of hope for the London Stock Exchange, potentially paving the way for more tech success stories in the UK market.

Read more:
Raspberry Pi Shares Surge on London Debut, Sparking Market Optimism

0
FacebookTwitterGoogle +Pinterest
previous post
UK Economy Stagnates in April Amid Wet Weather
next post
Marketing: It’s the emotion, stupid

You may also like

SafeLane Global Welcomes New CEO 

October 31, 2023

Unleashing Innovation: How Fintech Startups are Driving Embedded...

August 9, 2023

UK banks expect sharp rise in defaults on...

January 18, 2024

HMRC reminds businesses about new VAT penalties and...

February 22, 2023

Grangemouth oil refinery to close in 2024, risking...

September 13, 2024

Where to buy Telegram members in the UK?

March 9, 2023

Trump extends TikTok sale deadline amid ongoing talks...

April 4, 2025

Ted Baker to close all UK stores as...

August 19, 2024

Consumers Continue to Pay with Credit Cards —...

October 19, 2022

Bentley boss Hallmarks’ new mission: saving Aston Martin...

August 31, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved