admin The British food delivery organisation Deliveroo backed by the Amazon is seeking a big valuation of a whopping $12 billion in the London IPO. This is the first time that this firm will be coming into the market and the debut that it is making with such a big valuation will be one of the biggest in UK.
The platform has a dual class share structure that gives Will Shu, the CEO of Deliveroo voting rights. With the dual class share Will Shu will get 20 votes per share wherein the other investors will only be provided with one vote per share.
With the help of IPO, Deliveroo further seeks to up with gross proceeds to over a billion euros which will be a major step for the firm. Deliveroo in an official statement also said that just to be listing in London is a huge thing for them.
With getting into the market and becoming a public firm, Deliveroo will be able to invest in innovation and keep up with the tech tools that are needed. These will also be used to better the services of the restaurants and give more clarity to the riders and give the consumers only best of services.
With the help of IPO, the main aim that Deliveroo has is to provide better grocery deliveries to the consumers. In the UK, Deliveroo this year grew by 180% and they plan on increasing their growth even more.
50 million euros of shares will be available to the consumers and this is being promoted to make sure that people are aware. The food delivery and grocery delivery market is one that has been growing steadily and Deliveroo plans on using this very growth to capitalise.
Deliveroo has not only been growing in the UK but also in countries such as Denmark and Iceland.
The IPO listings of Deliveroo will be an advantage for UK as well as it will attract more and more tech based firms to set up centres in the UK.
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