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Shares of computing firm Raspberry Pi pop 31% in rare London market debut

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Shares of Raspberry Pi were up 31% in morning trade, as the computing startup seeks to raise £166 million ($211.2 million) from its initial public offering.

Raspberry Pi, which makes tiny single-board computers, priced its shares at 280 pence each.This is a period during which certain investors, like institutional ones, start trading shares.

The Raspberry Pi offering comprises 45.9 million ordinary shares sold by the company's existing majority shareholder, Raspberry Pi Mid Co Limited, a wholly owned subsidiary of the Raspberry Pi Foundation. It also includes 2.13 million ordinary shares sold by other shareholders, along with 11.23 million freshly issued shares.

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