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Deliveroo ‘hires four investment banks to help with major stock market flotation’

·1-min read
Deliveroo rider cycles along Worcester High Street (PA)
Deliveroo rider cycles along Worcester High Street (PA)

Deliveroo has reportedly hired four investment banks to help with what could be the biggest flotation on the London Stock Exchange this year.

The delivery app firm is said to have appointed Bank of America Merrill Lynch, Citi, Jefferies and Numis to work on the listing.

They will work underneath Goldman Sachs and JP Morgan on Deliveroo's initial public offering (IPO) that expected to be launched in the first half of this year.

That’s according to Sky News, which quoted market sources as saying bankers are preparing to pitch a valuation of well over £5bn.

Sources told the broadcaster a surge in revenues Deliveroo has seen since the start of the pandemic could prompt a sharp upward revision in its advisers' expectations of the valuation.

Deliveroo would not comment on the appointment of the four banks when approached by the Standard.

It comes after Deliveroo earlier this week announced plans to expand into a further 100 towns and cities across the UK.

The firm, which was founded in 2013 by Will Shu, has been preparing for what will be one of the City’s most prominent debuts of 2021.

Deliveroo has around 45,000 restaurants on its platform in the UK.

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