Analysis: Deliveroo’s IPO slump casts doubt over London’s post-Brexit ambitions By Reuters – Investing.com UK

Analysis: Deliveroo’s IPO slump casts doubt over London’s post-Brexit ambitions By Reuters – Investing.com UK

© Reuters. FILE PHOTO: A Deliveroo delivery rider cycles in London







By Abhinav Ramnarayan and Anna Irrera LONDON (Reuters) - Deliveroo's share price plunge on its London stock market debut has put a question mark over Britain's ambitions to become a home for fast-growing tech companies following its departure from the European Union, investors and analysts say. Shares in the food delivery company slumped as much as 30% on Wednesday in one of the biggest first day falls for a stock in London. They were down another 2.2% on Thursday. Many of the reasons for the brutal decline are likely to be company-specific, according to a dozen interviews by Reuters of venture capital (VC) investors, bankers, analysts and tech executives. But some said it also highlighted shortcomings in the London market and that - whatever the cause - it would deal a blow to Britain's efforts to attract more top tech companies. "The volatility facing Deliveroo's share price is