Deliveroo trims value of its London float

Deliveroo trims value of its London float

Deliveroo said it will price its shares for its initial public offering towards the bottom end of the range because of “volatile” market conditions.

The British food delivery start-up now expects to be listed with a market capitalisation of between £7.6 billion ($10.46bn) and £7.85bn instead of its earlier target of £7.6bn-£8.8bn. Deliveroo initially intended to price its offering at between £3.90 and £4.60 per share but that has narrowed to £3.90-£4.10.



Demand for its listing is expected to exceed the full deal size, potentially delivering London its largest IPO in a decade.

“Deliveroo has received very significant demand from institutions across the