LONDON (Reuters) – Deliveroo said shares worth £ 50 million ($ 69 million) will be allocated to customers in its next float, with the offer of “Great food with a stock side”.
The food delivery company, backed by Amazon, on Thursday announced plans to trade in London, with a potential value of $ 7 billion, making it the debut in Britain’s largest market since three years.
Founder and CEO Will Shu said Deliveroo customers had supported the firm’s growth and wanted to give them a chance to participate in the next stage of their journey.
“Too often, normal people are left out of IPOs and the only participants are institutional investors,” he said Sunday.
“I wanted to give as many customers as possible the opportunity to become shareholders, which is why we put 50 million pounds of stock at their disposal, along with our restaurant partners and pilots.”
Deliveroo said any customer who has placed an order will be able to register their interests through the company’s app starting Monday.
Each would be able to request up to £ 1,000 in stock, he added, adding that loyal customers would be prioritized if the offer was oversubscribed.
Russ Mold, investment director at online platform AJ Bell, said a year of closures had fueled demand from companies like Deliveroo and that habits formed during the pandemic were expected to last for a long time to come. to recovery.
“All of this suggests that there is likely to be a bond fight worth £ 50 million worth of Deliveroo customers’ shares on the IPO, ”he said.
Deliveroo said it would also recognize the role of its delivery pilots in its success with a £ 16 million reward program to be launched on the day of the listing.
Cash rewards of £ 10,000 to £ 200 will be available to riders in 21 Deliveroo markets depending on the number of orders delivered. It was said that the average per eligible pilot would be £ 440.
($ 1 = £ 0.7225)
Report by Paul Sandle; Edited by Christina Fincher