Delivery Hero cap raise shows tech stocks still in vogue

Delivery_Hero_Adobe_575x375_Jan7_2021
By Sam Kerr
07 Jan 2021

A €1.2bn sale of new Delivery Hero shares showed that investors are ready and waiting to commit capital to new equity capital markets deals in 2021. The transaction showed that demand for high growth tech names remains strong, despite a recent trend of investors buying into more cyclical companies.

Delivery Hero sold 9.44m new shares on Wednesday evening. The trade was launched at just before 4.50pm UK time and was covered in just over 20 minutes. The shares were sold at €132 each, which was a 4.7% discount to the close.

The company will use the proceeds ...

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