Deliveroo IPO puts London's tech credentials to the test
By Abhinav Ramnarayan and Paul Sandle
LONDON (Reuters) -When food delivery firm Deliveroo joins the London stock market on Wednesday, it will be Britain's biggest listing in a decade, even though some of the country's leading investors - worth over $1 trillion between them - will be conspicuous by their absence.
British Finance Minister Rishi Sunak has hailed the company's decision to go public in London as a "true British tech success story," and said he hopes it will set the stage for more listings by fast-growing technology companies.
But strong demand for the IPO - it was fully subscribed within hours of the order book being opened - has been overshadowed by complaints over its share structure, questions about potential legal problems for its gig-economy business model and the threat of strike action from some of its workers.
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LONDON (Reuters) -When food delivery firm Deliveroo joins the London stock market on Wednesday, it will be Britain's biggest listing in a decade, even though some of the country's leading investors - worth over $1 trillion between them - will be conspicuous by their absence.
British Finance Minister Rishi Sunak has hailed the company's decision to go public in London as a "true British tech success story," and said he hopes it will set the stage for more listings by fast-growing technology companies.
But strong demand for the IPO - it was fully subscribed within hours of the order book being opened - has been overshadowed by complaints over its share structure, questions about potential legal problems for its gig-economy business model and the threat of strike action from some of its workers.
...
Read More on Datafloq
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