But the debut had already been overshadowed as some of Britain’s biggest investment companies shunned the listing, citing concerns about gig-economy working conditions and the share structure. The 390 pence price tag gave an overall valuation of £7.6 billion ($10.46 billion) and was already set at the bottom of a target range. Deliveroo customers, who were allocated £50 million pounds of shares, are only able to trade on April 7th, when unconditional trading begins. US peer Doordash – which doubled in value on its stock market debut last year – has fallen as much as 40 per cent over the last month. But those stocks have steadied in the last two sessions, and the Amsterdam stock exchange hit a record high on Wednesday, led by tech stocks.

Source: The Irish Times March 31, 2021 07:43 UTC