UK and European currencies reject Deliveroo
UK and European retailers strongly opposed Deliveroo, with data showing that only four out of 18,000 global investors had invested in a food delivery company since it launched a crackdown earlier in March.
Deliveroo IPO was named the worst in the history of London after its share price dropped by 26 percent on its opening day. For two months, its shares still sell for more than one share at a low price of 390p, closing Friday at 251p.
Advertisers spoke ahead of the IPO to say avoid contact with them due to concerns about two-tier lists, improvements and performance.
According to a report from Morningstar, the only cash ordered in the UK to be deposited in Deliveroo is managed by River and Mercantile for treasurer AFH Group Three funds held by the Spanish fund Enginyers Accions Europa and two funds European-sponsored by Morgan Stanley and Franklin Templeton.
Morgan Stanley, Franklin Templeton, AFH Group, and River and Mercantile declined to comment. Caixa d’Enginyers did not respond to a request for comment.
Almost all of the money that supports Deliveroo is regulated in North America, including funds from Fidelity, T Rowe Price and Hermes Federated, according to Morningstar.
Tom Powdrill, chief executive officer at Pirc, a UK-based consultant, said “it was amazing that those who approached the project – both in the list and where Deliveroo does most of its business – could not invest a lot of money” The London-based company.
“If I were a U.S. stockbroker, I would think that the decline in housing assistance would be something to look forward to,” he added.
He also said that this could be driven by the growing interest of white Europeans in environmental, cultural and political issues.
Colin Baines, chief financial officer at the Friends Provident Foundation, says the coronavirus epidemic has brought economic hardships such as poor performance. “Having Deliveroo in books is a sure way to convince customers that they may not be affected by the financial crisis. [into investment decisions] that cistern. ”
Deliveroo said more than half of its shares came from those living in the UK, including Britain’s international watchdogs. Morningstar data reports 40,000 open currencies worldwide, including 18,000 controlled currencies in the UK and Europe.
Shares in other online catering companies, from Ocado to Just Eat Takeaway, have also not changed in recent weeks, as women fear the group will be lost now that eateries are allowed to return to restaurants.
But according to a recent report from Takealytics, a search engine that follows food programs, shipping “appears to be in good standing”, thanks to advertising activity.
Advertisers for major corporations have also expressed their concerns about the design of the two Deliveroo groups, which gives Deliveroo partner Will Shu more power. The share section excludes London’s list, which makes it difficult for some retailers to purchase goods.
“We are not in a position to do anything [because of the rights the chief executive will hold for three years]. This senior manager is able to run the business even if he wants to for many years, “said Andrew Millington, head of UK corporations at Aberdeen Standard Investments, ahead of the IPO.
#techFT brings you news, reviews and analysis in the big companies, technologies and challenges that shape the fastest moving of companies from experts around the world. Click here to download #techFT in the inbox.