DELIVEROO CONFIRMS £7.59BN MARKET CAP

Ciaran Murray

Deliveroo has revealed the offer price of its shares for when it goes public on the London Stock Exchange.

The company has set its offer price at £3.90 per share, equating to a market capitalisation on admission of £7.59bn.

Earlier this month Deliveroo said its price range would be between £3.90 to £4.60, giving it an implied market capitalisation of between £7.6bn and £8.8bn.

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The business will place about 384.6 million shares priced between £3.90 to £4.60.

The offer comprises 384.6 million shares, or 21.3 per cent of Deliveroo’s issued share capital. This includes 256.4 million new shares which will be issued, raising gross proceeds of about £1bn.

Deliveroo chief executive Will Shu said: “As we reach this milestone I want to thank everyone who has helped to build Deliveroo into the company it is today – in particular our restaurants and grocers, riders and customers. 

“In this next phase of our journey as a public company we will continue to invest in the innovations that help restaurants and grocers to grow their businesses, to bring customers more choice than ever before, and to provide riders with more work. Our aim is to build the definitive online food company and we’re very excited about the future ahead.”

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