Deliveroo outlines potential £5bn London float

Deliveroo has announced plans for a future listing on the London Stock Exchange that could fetch a value of £5bn.

The food delivery company has chosen to float on the London market due to its roots in the English capital.

The firm was founded in 2013 by Will Shu, now CEO at Deliveroo, in Chelsea, and has since supported 46,700 jobs in the UK.

Shu said that he is “proud and excited” about the potential listing in what is a “great place to live, work, do business, and eat”.

The decision for a potential share listing has been made after a recent introduction of a time-limited dual-class share structure, providing different classes of shares with contrasting voting rights.

Lord Hill’s UK listing review found that the dual-class shares “provide a way for the founder of the company to continue to be able to execute their vision,” while simultaneously allowing others to “share in that growth”.

The float follows a period of extensive growth at Deliveroo, as well as a recent spike in high-profile technology company listings, such as Moonpig.

Claudia, Arney, chair at Deliveroo, said: “The time-limited dual-class structure would provide Will and his team with the certainty needed to execute against their ambitious growth plan to become the definitive online food company. 

“We welcome Lord Hill’s recommendations to support modernisation of the market and continued tech sector growth in the UK.”