Food delivery company Deliveroo could make Britain’s biggest stock market debut since commodities giant Glencore went public nearly a decade ago, after setting a price range on Monday that values it at up to $12 billion.
Deliveroo will also be the biggest tech IPO on the LSE, dwarfing The Hut Group from last year — which had a 5.4 billion pound market capitalisation at time of listing — and the since-delisted Worldpay Group from 2015.
The company has benefited from the closure of restaurants for anything other than takeaways during the COVID-19 crisis and revenues have soared accordingly, with so-called gross transaction value – which measures the total value of orders received – rising 64.3% in 2020 to 4.1 billion pounds.
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