In a recent move, Delivery Hero SE, a Berlin-based food delivery platform, raised €1.25B by issuing 9.44 million new shares to institutional investors at €132/share, increasing its current share capital by around 4.7 per cent.
The placement price of €132/share represented a 4.6% discount to the stock’s closing price of €138.35 on January 6, reports Reuter. The company is planning to use the proceeds to take advantage of investment opportunities and general corporate purposes.
Reached all-time high
The company’s shares, which were promoted to Germany’s blue-chip stock index in August reached an all-time high on Tuesday, as the demand for home deliveries of food and other essential items continues due to the COVID-19 pandemic. Notably, the company’s shares are listed on the Frankfurt Stock Exchange and included in the DAX (Deutscher Aktienindex) index as well.
Received approval for €3.6B deal
Back in December 2019, the food delivery company had announced the acquisition of South Korea’s largest food delivery platform Woowa Brothers. Exactly after a year, the German company announced that it had received regulatory approval of its $4B (approx €3.6B) takeover deal. Notably, the Berlin food delivery company expects to receive the final written approval and closing to occur in the first quarter of 2021.