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Doris Yu · · 1 min readDeliveroo eyes ‘billions’ in UK listing
“Food delivery company Deliveroo kicked off an initial public offering in London that could raise billions of pounds and put the UK market on track for its best-ever first quarter,” reported Bloomberg.
Details:
- Deliveroo will sell new shares to raise capital, while existing backers will also divest stocks.
- It will list with a dual-class share structure, which will give its CEO Will Shu control of the firm’s further development.
Context:
- London-headquarted Deliveroo was valued at over US$7 billion after raising US$180 million in investment in January.
- Last year, the company’s gross transaction value reached 4.1 billion pounds (US$5.6 billion), increasing by 64.3% compared to the year before. It also reported an EBITDA loss of 9.6 million pounds (US$13.3 million) for 2020.
Currency converted from pound sterling to US dollar: US$1 = 0.72 pound.
Editing by Miguel Cordon
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