(Alliance News) - Deliveroo PLC on Thursday said it proposed a tender offer of up to GBP250 million to its shareholders at a price between 115 pence and 135p per share.
Shares in Deliveroo were up 8.8% at 120.00 pence each in London on Thursday morning.
The London-based online food delivery services firm said GBP250 million is available to be returned through the purchase of up to 217.4 million ordinary shares, or a 6% to 24% premium to its closing price on Wednesday.
The tender offer is subject to shareholder approval and is expected to open on Friday and expected to close on October 27. Proceeds are anticipated to be dispatched in early November, the firm said.
By Sabrina Penty, Alliance News reporter
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Deliveroo (ROO)