Delivery service Deliveroo is planning largest IPO in recent years
Deliveroo aims to go public. (Image: Deliveroo)
No time right now?
On Thursday, the London delivery company Deliveroo announced plans to go public soon. It could be the biggest new issue in three years.
In the first half of the year, the British delivery service Deliveroo, in which Amazon has a 16 percent stake, wants to go public on the London Stock Exchange. A company valuation of up to seven billion US dollars is expected. That reports that Handelsblatt.
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Deliveroo’s competitors remain stronger
This would leave Deliveroo below its fiercest competitor Just Eat Takeaway, which is known in this country as the operator of Lieferando and is worth around 14 billion dollars on the London Stock Exchange. Due to the strong Lieferando, Deliveroo announced in 2019 that it would withdraw from Germany.
The German DAX group Delivery Hero, which was listed on the Frankfurt Stock Exchange in 2017, is well ahead of Deliveroo with over 20 billion euros. Only the US delivery service Doordash is even stronger, which achieved a valuation of 60 billion dollars when it went public in New York last December.
Use of new stock exchange rules should give founders more control
When it went public, the delivery service, which was founded in 2013, will likely issue two different classes of shares. An upcoming change in stock exchange rules in Great Britain is to be used in this way to secure more control over the company for co-founder and CEO Will Shu for the next three years.
While many crisis winners are currently striving to go public, investors are already becoming more cautious again. They tend towards the loser values ​​because they expect higher growth potential there as the crisis subsides.
