How much can Deliveroo be worth after listing on the stock exchange

How much can Deliveroo be worth after listing on the stock exchange

The market capitalization, based on the price range per share, could reach 8.8 billion pounds: a milestone for the City

The Deliveroo app (photo Thomas Trutschel / Photothek via Getty Images) For the British press it has already become "the biggest debut on the London markets in ten years": it is the initial public offering prepared by Deliveroo that will list the shares in the standard segment of the City, in a price range between 3 , 9 and 4.6 pounds each. The market capitalization at the admission of the food delivery startup should thus be between 7.6 and 8.8 billion pounds, as the company itself announced.

For the United Kingdom, the listing will be a stone milestone to validate its newly reformed stock exchange system, with a view to attracting other technology companies that often choose American markets to raise funding. The amendment has made available a new dual structure of the shares, which may include both the ordinary class A shares, with one vote each, and class B, with twenty votes each. Although not yet admitted to the premium segment of the London Stock Exchange, this is precisely the formula chosen by Deliveroo.

Thus, holding just 6.3% of the shares, the founder Will Shu will thus have 57.5% voting rights, ensuring control over corporate strategies for three years. After that deadline, they will all become class A. Shu himself is planning to sell 6.7 million shares of his package which, based on the higher price, could bring him £ 30.8 million.

Deliveroo began taking orders on Monday for over 384 million shares put on the market, which are expected to be worth around 1.77 billion pounds (2.4 billion dollars). A billion pounds of gross revenues that the company plans to collect, to reinvest them in platform upgrades and investments in the delivery of food shopping. The rest of the proceeds will be split between Amazon and other investors who have believed in Deliveroo from the start. The ecommerce giant currently holds 15.8% of the shares, but is expected to sell about 23.3 million shares. Based on the higher price, it would earn 148 million dollars, to drop to an 11.5% share. According to Bloomberg, Index Ventures, Dst, Greenoak, Bridgepoint and Accel are also expected to sell shares.

On the other hand, Deliveroo has decided to make £ 50 million in shares available for purchase by of its own customers. The company says gross transaction value between January and February increased 121% year-over-year compared to the same period last year.

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