Plus   Neg

Delivery Hero Getting Ready For IPO


Delivery Hero has set the price range of its initial public offering at 22 euros to 25.50 euro per share that could value the online food takeaway company as much as 4.39 billion euros.

The company plans to raise as much as 995.6 million euros or $1.1 billion from the IPO. The proceeds would be 450 million euros at the mid-point of the price range. The stock is expected to begin trading on the Frankfurt Stock Exchange on June 30.

The IPO will consist of 18,950,000 new ordinary registered shares and of 15,000,000 existing ordinary registered shares from the holdings of certain current shareholders. Another 5,092,500 shares will be made available under "over-allotment" option.

Delivery Hero plans to use the proceeds to repay loans and to finance growth.

Delivery Hero was founded in 2011 and it operates in over 40 markets globally and has around 150,000 restaurants on its platform.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Follow RTT