Deliveroo targets £8.8bn valuation in biggest UK stock market listing for seven years

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Deliveroo is targeting a valuation of up to £8.8bn as it sells shares on the London Stock Exchange for the first time.

The food delivery business aims to sell shares at between 390p and 460p – the higher end of expectations.

Investors ploughed £129m into Deliveroo n January at a valuation of £5bn. The public share sale is expected to raise around £1bn for Deliveroo, which has not yet turned a profit.

Chief executive Will Shu said: “We are proud to be listing in London, the city where Deliveroo started.

“Becoming a public company will enable us to continue to invest in innovation, developing new tech tools to support restaurants and grocers, providing riders with more work, and extending choice for consumers, bringing them the food they love from more restaurants than ever before.

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