Deliveroo gave London its worst IPO in history CNN 1 hr ago By Hanna Ziady, CNN Business © Pietro Recchia/SOPA Images/Shutterstock Mandatory Credit: Photo by Pietro Recchia/SOPA Images/Shutterstock (11839820c) Deliveroo courier rides along Regent Street delivering Takeaway food in central London. Deliveroo rider in London, UK - 31 Mar 2021
At first glance, Deliveroo s stock market debut should have been a runaway success. The food delivery startup was a darling of the UK tech scene, and growing fast thanks to surging demand during the pandemic. Amazon recently bought 16% of the company in a major vote of confidence.
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But London s biggest IPO since 2011 was an unmitigated disaster. The stock plunged when trading started on Wednesday, and the shares eventually closed 26% below their listing price, wiping almost £2 billion ($2.8 billion) off Deliveroo s initial market capitalization. The stock lost another 1.9% on Thursday.
SUDOVI U SLUŽBI POLITIKE Kako sudije (pogrešnim) presudama mogu da preokrenu TOK ISTORIJE
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London needed a win Instead it got its worst IPO in history
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