Delivery Hero’s valuation surpasses $5B following successful IPO


Delivery Hero’s valuation topped $5 billion after the food delivery firm went public in a listing on the Frankfurt stock exchange.

The listing, announced earlier this month, came at a €25.50 share price, at the top of its pricing range. The share price quickly rose to reach as high as €26.90 — or up 5.5 percent — on the first day of trading, according to Bloomberg. That peak price gave six-year-old Delivery Hero, which is present in more than 40 countries, a market capitalization of around €4.5 billion, or approximately $5.1 billion.

Delivery Hero earned around €465 million ($530 million) from the IPO, which it plans to use to repay loans and invest in growth. That’s in contrast to US food delivery outfit Blue Apron, which endured a rocky start to life on the…

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