The £50m retail tranche on DELIVEROO'S £1.5bn IPO saw 70,000 customers on Wednesday become shareholders of the UK takeaway delivery company. But they could only watch as the value of their shares plunged and must wait a week before they can take any action. The Easter holidays means unconditional trading begins on April 7, at which point those investors can start dealing in shares. The average retail allocation was £714, implying an average first day loss of £187.75. The institutional book was fully covered within hours of books opening on March 22, but listing rules require retail tranches to be open for at least six working days, which prevented any acceleration. Trustpilot completed its bookbuild in five days this month as did Moonpig, which accelerated by a day on strong demand in February. Dr Martens wrapped its bookbuild in four days in January.
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