Deliveroo shares dive 30% as London debut of the decade turns sour
Photo: Reuters
Shares in Deliveroo plunged by as much as 30% in their trading debut on Wednesday, slicing more than 2 billion pounds off the company’s valuation in a blow to Britain’s ambitions to attract fast-growing tech companies to the London market.
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The food delivery firm could be valued at up to $10.85 billion in its stock market debut on March 31.
Deliveroo looks to sell $1.4b new shares in what may be biggest London IPO in 7 years
The deal is expected to value the firm upwards of $7b.
At a potential value of $7b, Deliveroo’s will be the biggest market debut in Britain in three years.
