Delivery Hero out - what do they know ?30 Jan 2024 13:27
Deliveroo PLC, down 4.5% at 116.40p, 12-month range 80.00p-149.40p. Germany's Delivery Hero SE late Tuesday said it sold its entire 4.5% stake in UK food delivery peer Deliveroo, raising GBP76.8 million. The Berlin-based delivery platform said about 68 million Deliveroo shares were placed with institutional investors at GBP1.13 per share. The accelerated bookbuild was run Barclays Bank Ireland PLC, Goldman Sachs Bank Europe SE and Morgan Stanley Europe SE. Delivery Hero said it has no remaining Deliveroo shares, adding the disposal shows its "commitment to disciplined capital allocation".