Food Delivery Service Deliveroo Seeks $12 Billion IPO Valuation

On Monday March 22, U.K. based food delivery service Deliveroo announced the price range for its upcoming IPO. The company will be Britain's biggest tech IPO in almost a decade with its planned price range, and will be the biggest tech IPO in Europe so far this year. The last company to have Britain's biggest IPO was miner and commodity trader Glencore, back in 2011.

IPO Details

The set price range is £3.90 to £4.60, or $5.41 to $6.38. The delivery service is targeting a market capitalization range of £7.6 billion to £8.8 billion, or $10.54 billion to $12.20 billion with this price range. At the midpoint of Deliveroo's intended range, the equity would be valued at £8.2bn, or $11.37 billion. About 384 million shares will be sold in the IPO and these shares will be worth £1.6 billio...

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