Shares in Raspberry Pi soared again as trading opened to retail investors for the first time.
The computer maker’s stock rose more than 20 per cent to as high as 500p in early trading yesterday.
That took gains since it listed in London on Tuesday at 280p a share to 79 per cent and gave it value of £970m.
The stock gave up many of its gains in later trading and eventually ended the day up 1.9 per cent, or 8p, at 420p. It capped off a stellar first week on the stock market for the Cambridge-based group.
Only institutional investors were able to trade the stock until yesterday when shares were opened to the wider market. Raspberry Pi, founded in 2012, makes products used by enthusiasts to build computer servers or retro games consoles.
Charles Hall, an analyst at broker Peel Hunt, said Raspberry Pi’s ‘success demonstrates that London can attract and support growth businesses and should encourage other companies to list’.
Chinese fast fashion giant Shein is among firms set to list in the City.
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Russ Mould, investment director at investment platform AJ Bell, said: ‘Raspberry Pi has been the talk of the town after its stock market debut went off with a bang earlier this week.’
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