Business
Deliveroo’s IPO tanks driven by concerns over treatment of workers – Sydney Morning Herald
Shares in the food delivery service tanked on its public debut and ended the day down 26 per cent from their below expectations initial public offering price of…
Food delivery platform Deliveroos shares tanked in its highly anticipated London initial public offering after fund managers raised concerns about the companys governance and working conditions for its couriers.
The IPO valued Deliveroo at £7.6 billion ($13.8 billion) but its shares on Wednesday evening finished 26 per cent down from their debut price of 390p, a price that had already been cut after several fund managers sat out the listing.
Deliveroo has not turned a profit since it was founded…
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