Deliveroo aims to sell $1.4 billion of new shares in upcoming IPO

Deliveroo aims to sell $1.4 billion of new shares in upcoming IPO

News: Deliveroo aims to sell $1.4 billion of new shares in upcoming IPO.

LONDON (Reuters) – UK grocery shipping company Deliveroo announced Monday that it plans to sell around £ 1 billion ($ 1.39 billion) in new shares as part of its upcoming IPO.

The company, which is backed by Amazon, said its listing will also include the sale of shares by some existing shareholders.

Deliveroo confirmed that there will be two classes of shares, with founder and CEO Will Shu being the sole holder of Class B shares giving each of its shares 20 votes while all other shares have one vote.

($ 1 = 0.7185 pounds)

Reporting by Rachel Armstrong, Editing by Louise Heavens

Original Source © Reuters

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