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
21,788.10
17:35 27/05/22
0.90%
193.91
Deliveroo Class A
85.92p
17:18 27/05/22
-1.42%
-1.24p
Delivery Hero Ag
€34.17
17:22 27/05/22
5.27%
€1.71
Software & Computer Services
1,711.47
17:30 27/05/22
0.62%
10.55
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."