UK retail FX and CFD broker City Index is offering traders to take a position on Deliveroo, after the food delivery giant made its debut on the London Stock Exchange. Traders are invited to find opportunity in Deliveroo’s post-IPO volatility.

Deliveroo’s IPO took place on March 31 2021, listing on the London Stock Exchange under the ticker ROO.

It sold over 384 million shares in an attempt to raise up to £1.5 billion. The food delivery juggernaut priced its shares at £3.90 each, which was at the lower end of its target range. This gave it a valuation of £7.59 billion at the commencement of trading.

But shortly after conditional trading started at 8 am, the company’s share price fell by 30% to £2.73, wiping approximately £2 billion off the company’s valuation.

Unconditional trading is due to start on April 7, 2021, which is when existing shareholders will be able to sell their holdings to other parties. But traders can already speculate on Deliveroo shares with City Index via spread bets and CFDs.

Since its launch in 2013, Deliveroo has raised some £1.2 billion in funding, from the likes of Accel, Index Ventures, Hummingbird Ventures, Durable Capital Partners, and many more.

You can find details on City Index’s proposal on this page.