Home Business News Amazon cuts its Deliveroo stake to 11.5% in its IPO in London

Amazon cuts its Deliveroo stake to 11.5% in its IPO in London

© Reuters. FILE PHOTO: The cycle of the deliveroo deliverer in London, UK

LONDON (Reuters) – Amazon.com (NASDAQ 🙂 will cut its stake in British food delivery company Deliveroo by 11.5% in its upcoming initial public offering from 15.8. % earlier, according to a prospectus published by the company.

Deliveroo started the roadshow this week for an IPO in London and set prices between £ 3.90 and £ 4.60 per share, giving it a market value from £ 7.6 billion to £ 8, 8 billion pounds (10.46 billion USD – 12.11 billion USD).

This includes selling new shares to raise £ 1 billion and about 128.2 million shares from existing shareholders at the final price.

According to the prospectus, Amazon is expected to drop about 23.3 million shares as part of this, allowing the tech giant to reap between £ 90.87 million and £ 107.18 million from the deal. this.

Amazon raised its stake in Deliveroo to 16% last year in a deal that must be settled by the UK competition watchdog and participate in a $ 180 million private funding round in November. 1 with a company value of more than 7 billion dollars.

($ 1 = £ 0.7268)

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