Amazon-Backed Deliveroo Tanks In London Market Debut

LONDON — Shares of British food delivery start-up Deliveroo plunged in its stock market debut Wednesday, as the company faces pressure from top investors and trade unions over workers’ rights.

Deliveroo, which is backed by Amazon, saw its shares sink around 30% in early deals compared to the issue price, before trimming some losses. Shares were down 26% by the market close.

The company priced its shares at £3.90 ($5.36) Tuesday, giving it an expected market value of £7.59 billion, which was at the bottom end of its IPO target range. Read more…..


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