Deliveroo confirms it is to be value at £7.6bn in listing

Deliveroo has confirmed that it will be valued at around £7.6bn in its bumper London listing.
Deliveroo said it plans to invest the funds into continuing its growth trajectory and fuelling its innovation efforts.Deliveroo said it plans to invest the funds into continuing its growth trajectory and fuelling its innovation efforts.
Deliveroo said it plans to invest the funds into continuing its growth trajectory and fuelling its innovation efforts.

Earlier this month, the takeaway delivery giant said it hoped for a valuation between £7.6bn and £8.8bn.

However, it has said it will now price shares at the very bottom of its potential range after a number of leading UK fund managers said they would reject the listing amid concerns over workers' rights issues and its shareholder structure.

Hide Ad
Hide Ad

The company, which was founded by Will Shu in 2013, has said it will offer new shares to investors at a price of 390p per share.

It said it plans to raise around £1bn through selling shares to new investors, with a further £500m worth of shares to be sold to existing backers.

Deliveroo said it plans to invest the funds into continuing its growth trajectory and fuelling its innovation efforts.

Mr Shu said: "I am very proud that Deliveroo is going public in London - our home.

Hide Ad
Hide Ad

"As we reach this milestone I want to thank everyone who has helped to build Deliveroo into the company it is today - in particular our restaurants and grocers, riders and customers.

"In this next phase of our journey as a public company we will continue to invest in the innovations that help restaurants and grocers to grow their businesses, to bring customers more choice than ever before, and to provide riders with more work.

"Our aim is to build the definitive online food company and we're very excited about the future ahead."

Last week, some of the UK's largest fund managers, including Legal & General and Aviva, said they would reject the flotation, highlighting issues related to its business model, workers' rights and regulatory concerns.

Hide Ad
Hide Ad

Firms have also raised concerns over the share structure, which will see founder Will Shu have 20 votes per share, compared with one per share for other investors, giving him a majority position at shareholder votes.

---

Support The Yorkshire Post and become a subscriber today.

Your subscription will help us to continue to bring quality news to the people of Yorkshire. In return, you'll see fewer ads on site, get free access to our app and receive exclusive members-only offers.

So, please - if you can - pay for our work. Just £5 per month is the starting point. If you think that which we are trying to achieve is worth more, you can pay us what you think we are worth. By doing so, you will be investing in something that is becoming increasingly rare. Independent journalism that cares less about right and left and more about right and wrong. Journalism you can trust.

Thank you

James Mitchinson

Related topics: