The Cambridge-based company is well-known for producing reasonably priced credit card-sized computers that are intended to improve kids’ coding abilities.
In early trading on Tuesday, shares rose above the 280p initial public offering (IPO) price to 392p.
“The reaction that we have received is a reflection of the world-class team that we have assembled,” stated Eben Upton, CEO of Raspberry Pi.
Additionally, he claimed, it was due to “the strength of the loyal community with whom we have grown.”
Mr. Upton founded the business in 2008, and the first product went on sale in 2012.
Since then, the company has sold over 60 million single-board computers.
The company stated in a stock market update that the terms of the IPO indicated a valuation of £541.6 million ($688.8 million). According to Raspberry Pi, the IPO would bring in £166 million ($211 million).
The trading of shares started with “conditional dealing” for institutional investors and London Stock Exchange users. On Friday, full open trade is scheduled to start.
The London stock market is active.
“This is an indication that there is life in the London stock market, and companies can derive value from listing in London,” stated Kathleen Brooks, research director at brokerage XTB.
