The Amazon-backed food delivery service raised $2.07bn in its initial public offering only to see its shares fall some 25% on its opening day.
UK-based online food delivery service Deliveroo floated on the London Stock Exchange this morning in a £1.5bn ($2.07bn) initial public offering, scoring an exit for e-commerce group Amazon.
The company issued about 256 million shares while its shareholders sold a further 128 million. They were priced at £3.90 each – at the foot of the IPO’s £3.90 to £4.60 range – but have fallen to £2.95 at time of writing, cutting its market capitalisation to about $5.7bn.
Deliveroo runs an…
