Deliveroo is about to nominate Goldman Sachs as one of its new brokers eight months after Wall Street’s bank played a major role in becoming one of the most disastrous listings on the London Stock Exchange. ..
Sky News has learned that Deliveroo is about to finalize its appointment as a joint venture broker for Goldman and Barclays. This is an important role for investment banks in trying to advise the company’s board of directors on favorable transactions.
The food delivery app went public in late March, and at some point on the trading opening date, the stock price plummeted by nearly a third.
Two US investment banks, Goldman and JP Morgan, played the leading role in the levitation.
A source close to Deliveroo said the appointment of a co-broker has not yet been finalized, but Goldman and Barclays are good candidates for landing that role.
Barclays was not involved in the initial public offering of the app. At the initial public offering, the stock price was £ 3.90.
Due to the sudden collapse of value, some commentators described it as the worst IPO ever in London, but since then Deliveroo’s stock has recovered.
Nonetheless, they closed at just 314.2p on Friday, giving the company a market value of £ 5.76 billion.
Germany-based Delivery Hero had no plans to open a bid, but it was revealed in August that it had acquired a 5% stake in its UK rivals.
A Deliveroo spokesman declined to comment on Sunday.
Deliveroo chose Goldman as the broker, despite the role of the US bank on the IPO flop.Business news
Source link Deliveroo chose Goldman as the broker, despite the role of the US bank on the IPO flop.Business news