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Delivery Hero jumps on debut in boost for tech IPOs

Staff Writer |
Shares in $5 billion online takeaway food delivery group Delivery Hero rose as much as 9 percent on their Frankfurt stock market debut, boosting prospects for other potential technology listings this year.

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The company had priced its initial public offering (IPO) at 25.50 euros a share, the top end of the price range, selling shares worth about 1 billion euros ($1.1 billion) and giving it a market capitalisation of 4.4 billion euros.

The stock rose to 27.80 euros after it started trading on Friday.

The 10 high-tech IPOs in Europe this year have fetched proceeds of about $2.4 billion, Thomson Reuters data shows.

The same number of flotations in the Americas has raised $5.2 billion, lifted by Snap's $3.9 billion IPO.

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