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Deliveroo buyback set at a third of 2021 float level
Evening Standard
|September 28, 2023
AN OFFER by Deliveroo to buy £250 million of its shares was today priced at a third of the level stumped up by investors in its £7.9 billion flotation.
The proposed move gives all shareholders apart from founder Will Shu the opportunity to sell some of their investments at points ranging from 115p to 135p.
That represents a premium of up to 14% on Deliveroo's 90-day average but compares with 390p when the meal delivery app listed amid much excitement in March 2021.
The shares slumped as far as 76p last October as the fading of the pandemic-era takeover delivery boom slowed the tech unicorn's path to profit.
This story is from the September 28, 2023 edition of Evening Standard.
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