In pre-offer ‘conditional dealing’ for institutions the price per share rose by a third over the offer price to 380p.
Open trading starts on Friday.
The offer, worth £166 million represents about 30.7% of the company’s shares and will raise about £31.4 million.
“We did take a look at New York but we realised that, for a company of our scale, the London market is probably a better home,” said Raspberry Pi CEO Eben Upton “many of the stories that people tell about the differences between the US and the UK — particularly this sort of magical multiple arbitrage — don’t seem to be real.”
The Raspberry Pi Foundation held about 73% of the shares of Raspberry Pi before the IPO.
Last year Raspberry Pi had revenues of $265.8 million for a profit of $38.2 million.
