Goldman Sachs propped up Deliveroo IPO with £75m investment April 6, 2021 Goldman Sachs pumped tens of millions of pounds into Deliveroo shares in order to prop up trading of the takeaway app, after investors shunned its market debut. The investment bank bought around £75m of Deliveroo shares – equivalent to a quarter of stock traded in the first two days after the London listing – the [...]
Retail investors back Rio Tinto climate accountable proposals April 6, 2021 Retail investors have backed climate accountable proposals from Rio Tinto, which the miner will vote on this Friday, as accountability is pushed higher on this year’s agenda. 71.5 per cent of retail investors have called for chairs and CEOs of the mining giant to be held to account on Environments, Social and Governance (ESG) standards, [...]
Screenshot: Will London ever be ready for tech IPOs? April 2, 2021 This week **Media Moment of the Week: Volkswagen’s awkward U-turn **Will London ever be ready for tech IPOs? **Amazon goes bonkers for bots Media Moment of the Week: Volkswagen’s awkward U-turn There are few things as grating as the forced joviality of April Fool’s Day and it should, in this writer’s opinion, be cancelled. That [...]
Deliveroo shares slump 30 per cent on long-awaited stock market debut March 31, 2021 Deliveroo shares plunged by as much as 30 per cent on its long-awaited market debut, wiping more than £2bn off its valuation. The delivery firm’s shares closed out their first day of trading well down at 287p, a sharp drop from the offer price of 390p per share. The listing had been hotly anticipated given [...]
Deliveroo narrows share price range as expected valuation drops by £1bn March 29, 2021 Deliveroo has said it will price shares for its highly anticipated stock market listing towards the bottom of its price range due to “volatile” market conditions. The takeaway delivery service is set to announce its final pricing on Wednesday morning but has narrowed its share price range to between £3.90 and £4.10 per share. Last [...]
Screenshot: Will workers’ rights put a puncture in Deliveroo’s IPO? March 26, 2021 This week **Media Moment of the Week: Farewell to the real McCoy **Will workers’ rights put a puncture in Deliveroo’s IPO? **A watchdog bares its teeth Media Moment of the Week: Farewell to the real McCoy In a shock bit of transfer news this week, BBC presenter Simon McCoy announced he was leaving the Beeb [...]
Marcus Rashford to hold talks with Deliveroo over workers’ rights March 26, 2021 Marcus Rashford is reportedly set to hold discussions with Deliveroo amid rising concerns about the way the delivery giant treats its workers. Deliveroo has come under scrutiny in recent days after it emerged many of its riders were not earning minimum wage. A string of major investors have also distanced themselves from the company’s blockbuster [...]
Deliveroo float under fire as major investors balk at workers’ rights row March 25, 2021 Deliveroo’s blockbuster stock market float is under pressure after a string of high-profile investors said they will steer clear of the IPO due to the way the company treats its workers. Legal & General Investment Management and M&G today became the latest institutional investors to announce they will not take part in the delivery giant’s [...]
Amazon to slim down Deliveroo stake after blockbuster float March 23, 2021 Amazon is set to trim down its stake in Deliveroo following the food delivery firm’s blockbuster initial public offering this year. The ecommerce giant plans to sell around 23m shares as part of the stock market debut, allowing it to raise as much as £107m from the deal. Its stake in Deliveroo will be reduced [...]
Deliveroo targets £9bn market cap in London listing as food order values more than double March 22, 2021 Deliveroo is targeting a market capitalisation of almost £9bn through its upcoming public listing, the food ordering app announced this morning as it revealed transaction values had more than doubled at the beginning of the year. The firm this morning unveiled further plans for its London initial public offering (IPO), setting the price range for [...]