IPO: Shares in Raspberry Pi, whose products are popular with amateur coders and hobbyists, rose to 420p
Raspberry Pi posted a second day of gains after a huge stock market listing in London.
Shares in the company, whose products are popular with amateur programmers and hobbyists, rose to 420p yesterday.
That pared gains since it listed at 280p per share on Tuesday to 50 per cent, valuing it at more than £800m. The stock eventually closed down 3.9 percent, or 15 cents, at 400 cents.
Demand for the shares, which are currently only available to certain institutions but will be widely sold to investors tomorrow, is a shot in the arm for the city.
Susannah Streeter of Hargreaves Lansdown said the IPO showed there was ‘no shortage of demand to buy UK businesses’.
She added: ‘The focus should be on ensuring a direct supply of IPOs coming to London.
“It would be welcome to see listing reforms implemented quickly to ensure the city remains as attractive as possible.”