Delivery Hero’s value tops $5bn after IPO

After a successful initial public offering (IPO) on the Frankfurt stock exchange, Delivery Hero’s market valuation has topped €4.5bn ($5.1bn). The listing for the food delivery company came in at €25.50 a share – which was at the top of its price range – and rose to a high of €26.90.

Delivery Hero operates in more than 40 countries and partners with about 150,000 restaurants, using a number of brands including Foodpanda, Foodora and Lieferheld. The company is part-owned by Rocket Internet.

Meanwhile, another player in the food delivery sector – the “meal kit” specialist Blue Apron – had a less auspicious IPO on the New York stock exchange yesterday (29 June) when it opened for trading at $10 a share – significantly below the originally proposed range of $15 to $17.

Source: Bloomberg