Deliveroo, a London-based takeaway service, suffered a dismal stock market debut on Wednesday even after the IPO was priced at the low end of its target range. The UK company’s shares had plunged as low as 30 per cent within the first 20 minutes of trading, wiping out around £2.3B (approx €2.7B) in market value.
Is this the worst IPO in UK history? Definitely not! According to William Wright, founder of New Financial, it’s the 11th-worst IPO in UK history. In his tweet, he says, “‘The worst IPO in history is a little harsh: Deliveroo’s only ranks 1,765th out of 1,775 IPOs by UK companies in terms of its first-day performance.”