(Courtesy of Deliveroo)
Food delivery unicorn Deliveroo is seeking a valuation of up to £8.8 billion in its upcoming IPO.
- The London-based company has set the price range for its listing at between £3.90 and £4.60 per share. It is planning to sell around 384.6 million shares, which would raise some £1.8 billion at the top of that range. Deliveroo has received prior backing from investors such as Amazon, T. Rowe Price and Greenoaks.
- The listing will mostly consist of new shares, with £1 billion earmarked for the company's growth. Sky News reported that founder Will Shu is likely to sell a portion of his 6.2% stake, which could be worth some £550 million after the debut.
- Deliveroo's IPO is reportedly on course to be the largest London has seen in the last 10 years. The UK is currently looking to relax listing rules to attract more companies to its stock exchange.