Deliveroo may reveal IPO details on March 8

0
19

Deliveroo may publish plans to go public on March 8, meaning the stock could start trading as early as next month.

It isn’t a definitive date yet, Sky News reported, so the announcement could be postponed.

READ: Made.com considers joining IPO bonanza as it explores market listing

The food delivery app is one of the most hotly anticipated IPOs this year, as it looks to tap the market for funds to pursue an expansion strategy and battle its main rivals Uber Eats and Just Eat Takeaway.com NV (LON:JET).

The app currently boasts around 45,000 restaurants on its platform and recently unveiled plans to expand into 100 more towns and cities across the UK in 2021.

Last month, the British tech unicorn completed a funding round raising over US$180mln, which valued it at US$7bn (£5bn).

Takeaway delivery firms like Deliveroo, Uber Eats, Just Eat Takeaway.com and GrubHub have seen a boom in business during the pandemic as lockdown restrictions forced restaurants to close their doors and left most proprietors relying on takeaway orders to stay afloat.

Several companies have recently made plans to float in London, including Beckham-backed cannabis firm Cellular Goods and wine seller Virgin Wines, while card retailer Moonpig (LON:MOON) and bootmaker Dr Martens (LON:DOCS) have started trading this month.

It was revealed on Monday that online furniture retailer Made.com is also mulling over a listing.

LEAVE A REPLY

Please enter your comment!
Please enter your name here