Deliveroo shares in London
The offer could raise around 9 billion euros
Deliveroo, the App that delivers food at home, has been miraculously affected by Covid: in London alone, in 2020 around 6 million people a month clicked on the App to order food at least once. In the wake of the boom, now Deliveroo has decided to go public and in early April it will land on the London Stock Exchange. The "start up", which has losses of 260 million, is aiming for a market capitalization of 7 billion pounds to almost 9 billion euros: it will be one of the largest freshmen in Europe.
For the London Stock Exchange, Deliveroo, which for two years has had Amazon among the shareholders with 16%, is the first and largest listing for the City after Brexit and the largest tech company. The listed competitors have made sparks: the American DoorDash capitalizes on the Nasdaq the stratospheric sum of 60 billion dollars, while the other competitor, the Danish JustEat, listed on the FTSE100 in London, is worth 10 billion pounds. In the domestic market, Deliveroo operates as a leader: last year it saw revenues jump by 54%, with gross revenues of over £ 4 billion, and net revenues of £ 1.2 billion.
The listing includes two categories of shares, one ordinary and one special: the special ones, 20 voting rights for each share, will allow Will Hu, the founder, to place a substantial package on the market without losing control.
EFA News - European Food Agency