Deliveroo set for biggest London flotation in 10 years

Deliveroo has announced that it is expecting its stock flotation to value the firm at up to £8.8bn, which would make it the biggest London stock market debut in ten years.

In a trading update, the food delivery company revealed that it is continuing to benefit from consumers ordering food online during the pandemic.

Over the past year, the total value of transactions processed on the Deliveroo app increased by 130% year-on-year in January in both the UK and Ireland, as well as by 112% in other markets.

The company’s IPO is currently priced at around £3.90 and £4.60 a share, valuing it at £8.8bn.

In a statement, Deliveroo’s foundr Will Shu said: “We are proud to be listing in London, the city where Deliveroo started.

“Becoming a public company will enable us to continue to invest in innovation, developing new tech tools to support restaurants and grocers, providing riders with more work and extending choice for consumers, bringing them the food they love from more restaurants than ever before.”

He added: “This will help us in our mission to become the definitive food company.”