Deals
Rocket-Backed Delivery Hero Eyes Year's Biggest German IPO
- Berlin-based food takeout service to list in Frankfurt
- Analyst: Rocket ‘still has good companies in its portfolio’
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Delivery Hero AG, the Berlin-based food-takeout business backed by Germany’s Rocket Internet SE, announced plans for Germany’s biggest initial public offering of the year to fund expansion in an increasingly competitive market.
Delivery Hero, about 35 percent owned by Berlin startup mill Rocket, plans to sell new shares worth about 450 million euros ($507 million) on the Frankfurt stock exchange in the next few months, the company said Tuesday in a statement. Existing investors will also sell shares, it said.