Subj : Raspberry Pi shares are piping hot, hit 39% on LSE debut
To   : All
From : TechnologyDaily
Date : Tue Jun 11 2024 11:00:05

Raspberry Pi shares are piping hot, hit 39% on LSE debut

Date:
Tue, 11 Jun 2024 09:49:14 +0000

Description:
The Raspberry Pi Foundation is now in the conditional dealing phase of its 
London Stock Exchange debut, with its full-fat debut imminently.

FULL STORY
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Shares of single-board microcomputer manufacturer The Raspberry Pi Foundation 
hit 39% on the London Stock Exchange as the company began a conditional 
dealing phase, with shares expected to be widely available soon after rumours 
began swirling in May 2024 . 

This rare addition of a tech company to the London Stock Exchange, which, per 
CNBC , has largely struggled to attract technology companies in recent years, 
is paying off. Shares were initially priced at 280 pence but, at the time of 
writing, have reached 390 pence. 

The company was initially valued at 541.6 million. Available shares are split 
between 45.9 million available ordinary shares sold by the majority 
shareholder Raspberry Pi Mid Co Limited, a wholly owned subsidiary of the RPi 
Foundation, 2.13 million ordinary shares held by other parties, and 11.23 
million new shares. RPi on the LSE 

Should demand continue to rise and impact supply, an overallotement will 
allow the RPi Foundation to issue 4.6 million shares valued at 178.9 million. 

We shouldnt be surprised by this exceptional opening performance by the 
company. CNBC have noted that RPi revenues were up 41% year-on-year as of 
2023, with the company posting $265.8 million as their earnings that year. 

Its as yet unclear as to whether the listing of a local technology company on 
the LSE will attract others from the UK or even further afield. 

Chip giant Arm, which announced an investment in the RPi Foundation in 
November 2023 (and already saw its hardware used in Pi products), chose to go 
public on the Nasdaq in the U.S in September of that year. 

When we reported on those rumors in August of that year, the Amazon, Intel, 
Nvidia and Alphabet vultures were all reportedly circling to invest. More 
from TechRadar Pro Remote access is now baked into Raspberry Pi Raspberry Pi 
400 packs a full computer inside a keyboard Weve also listed the best 
Raspberry Pi distros right now



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Link to news story:
https://www.techradar.com/pro/security/raspberry-pi-shares-are-piping-hot-hit-
39-on-lse-debut


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