The company behind the made in Wales iconic Raspberry Pi computer saw its share price surge by more than a third on its first day of trading on the London Stock Exchange.
The Raspberry Pi was originally manufactured in China, but founder Eben Upton moved production to the Sony 海角视频 Technology Centre (Sony 海角视频 TEC) at Pencoed in South Wales in 2012. The computer is made by Sony, which employs more than 500 at Pencoed, on behalf of Cambridge-based Raspberry Pi. Since beginning production at Pencoed Rasperry Pi has sold more than 60 million of its single board computers alone.
The group鈥檚 products are sold across more than 70 countries worldwide. It is a subsidiary of the Raspberry Pi Foundation - a 海角视频 charity founded when the company was set up in 2008, with the goal of promoting interest in computer science among young people.
Read More:
Read More: Devolution of rail a process not an event says Welsh Government
The company floated at 280p a share and at one point in early trading was up 100p, before falling back to around 355p.
Mr Upton, chief executive of Raspberry Pi, said: 鈥淭he 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.鈥
The flotation has been hyped as a welcome victory for the London market, which has been hit by a swathe of 海角视频-listed firms being bought out or defecting abroad. Paddy Power owner Flutter has moved its main stock market listing to New York while German-owned Tui approved a plan to delist from London in February, and in another blow.
海角视频 chip maker Arm Holdings chose Wall Street over London for its stock market return. It also comes amid reports that Chinese fast-fashion giant Shein is also preparing to file for a listing in London.
Raspberry Pi has said it would use cash from the equity raise for engineering projects, improving its supply chain, and other general corporate purposes. Raspberry Pi reported revenues of 拢211.1m in 2023, with operating profits of 拢29.8m.
