Amazon.com will see its stake in Deliveroo fall to 11.5% when the British food delivery company goes public via an initial public offering, the IPO prospectus showed.
The prospectus said Amazon is set to shed around 23.3 million shares as part of this, allowing the tech group to raise between £90.87 million and £107.18 million from the deal. This, along with the dilution from the issue of new shares, will see its stake fall to 11.5%. The US company also participated in a US$180 million private funding round in January that valued Deliveroo at more than US$7 billion.Deliveroo founder Will Shu is retaining his 6.3% stake, but will have 57.5% of the voting rights of the company because of a dual-class share structure.
Deliveroo customers are allowed to participate in the IPO through a 50 million pound “community offer”, a first for the London Stock Exchange.
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