Deliveroo surges as rival Delivery Hero takes 5.1% stake
Deliveroo shares surged on Monday after rival Delivery Hero took a 5.09% stake in the company.
Cboe DEM 50
19,655.32
16:29 25/04/24
-0.97%
-191.76
Deliveroo Class
130.30p
16:30 25/04/24
0.00%
0.00p
Delivery Hero Ag
€30.96
16:30 25/04/24
0.00%
€0.00
Software & Computer Services
2,393.60
16:29 25/04/24
-0.78%
-18.92
German firm Delivery Hero now owns just under 87.4m Deliveroo shares.
At 1605 BST, Deliveroo shares were up 4.5% at 339.63p.
CMC Markets analyst Michael Hewson said: "The shares still remain below the 390p IPO price of earlier this year, however a decent update on Wednesday could be the catalyst that could enable it to complete a five-month round trip for the share price, from its April lows of 225p."