LONDON (Reuters) – Deliveroo said 50 million pounds ($ 69 million) worth of shares would be earmarked for buyers in the upcoming launch, with the offer marked “Excellent food with shares” .
The Amazon-backed food delivery company announced plans Thursday to list in London, with a potential value of $ 7 billion making it Britain’s first-largest market festival for three years.
Founder and CEO Will Shu said Deliveroo’s customers had supported the company’s growth and wanted to give them a chance to share in the next phase of its journey.
“Ordinary people are often locked out of IPOs, and the only partners are the institutional investors,” he said Sunday.
“I wanted to give so many customers the opportunity to be shareholders, which is why we give them 50 million pounds of shares, along with our restaurant partners and riders. . ”
Deliveroo said any customer who placed an order would be able to register their interest through the company’s app from Monday.
Each would be able to bid for up to 1,000 pounds of shares, he said, saying loyal customers would have priority if the offer was full.
Russ Mold, director of investment at online platform AJ Bell, said a year of locksmiths had driven demand for companies like Deliveroo and practices created through the pandemic were expected to remain long-lasting. -into.
“All of this indicates that there is likely to be a bottom-up fight for 50 million pounds of customer shares in Deliveroo at an IPO offer,” he said.
Deliveroo said it would also recognize the role of its delivery riders by successfully launching a 16 million pound prize program launched on the day of listing.
Cash prizes from 10,000 pounds to 200 pounds will be available to cyclists in 21 Deliveroo markets based on the number of orders delivered. He said 440 pounds per eligible cyclist.
($ 1 = 0.7225 pounds)
Reciting with Paul Sandle; Edited by Christina Fincher