Backed Deliveroo seeking valuation of up to $12bn in London flotation
Tuesday, March 23, 2021
Deliveroo has claimed it expects an IPO to value it at up to £8.8 billion - the biggest London debut of its kind in a decade.
The company benefited from the closure of more restaurants than snacks during the Covid 19 crisis, and revenue rocketed-gross transaction value - which measures the total value of orders placed, rose by 64.3% to £4.1bn in 2020.
In a trading update on Monday, Deliveroo said the total value of transactions conducted by the company more than doubled in the first two months of the year, boosted by the shutdown of the UK's Coronavirus.
The initial public offering, one of the biggest in Britain in recent years, is expected to price the shares in a range of between £3.9 and £4.6 per share, according to the stock market materials filed on Monday with the London Stock Exchange.
'We are proud to be listing in London, the city where Deliveroo started,' s launch started,' said Shu in a statement on Monday.