Given the negative publicity surrounding its rate of pay, and the strike scheduled for next week, it is unsurprising that the opening share price of Deliveroo has tanked.
Deliveroo had earlier this week had to slash its offer price to the bottom end of its initial range of 390 pence per share and a $10.4 billion valuation.
Deliveroo’s shares plunged to lows of 276p per share before stabilizing at 299p per share. Deliveroo’s opening marked one of the worst debuts in recent years for a London-listed company.
Deliveroo had initially hoped for an opening rice of around 460p.
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