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
19,314.29
08:44 08/11/24
0.15%
29.67
Deliveroo Class
135.20p
08:34 08/11/24
0.52%
0.70p
Delivery Hero Ag
€37.08
16:30 07/11/24
-3.89%
-€1.50
Software & Computer Services
2,423.22
08:35 08/11/24
0.46%
11.18
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."