Raspberry Pi raises £541.6m from London IPO
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Its shares start trading tomorrow (Wednesday) at 280p per share. Market watchers had speculated on a £500m raise and anticipated an early spike in the stock following IPO.
Raspberry Pi’s preference for London has begun to reverse a depressing exodus of top Cambridge and UK companies to the US for IPO.
CEO Eben Upton said: “The quality of the interactions during the marketing process has underlined our belief that London has the right calibre and sophistication of investor to support growing, ambitious technology businesses such as Raspberry Pi.
“The reaction that we have received is a reflection of the world-class team that we have assembled and the strength of the loyal community with whom we have grown.
“Welcoming new shareholders alongside our existing ones brings with it a great responsibility and one that we accept willingly as we continue on our mission to make high-performance, low-cost computing accessible to everyone.”
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