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Deliveroo Aims To Sell $1.4 Billion Of New Shares In Upcoming IPO

Deliveroo confirmed that it will have two classes of shares, with founder and chief executive Will Shu to be the sole holder of "class B" stock which will give each of his shares 20 votes, whilst all other shares will carry one vote.

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British food delivery company Deliveroo said on Monday that it plans to sell around 1 billion pounds ($1.39 billion)of new shares in its upcoming initial public offering.

The company, which is backed by Amazon, said its listing will also include the sale of shares by some existing shareholders.

Deliveroo confirmed that it will have two classes of shares, with founder and chief executive Will Shu to be the sole holder of "class B" stock which will give each of his shares 20 votes, whilst all other shares will carry one vote.

(Reuters)