JAKARTA - Amazon.com Inc is planning to sell 4.3% stake in food delivery company Deliveroo Holdings Plc for US$ 148 million. After this transaction, Amazon's ownership will decline to 11.5% from 15.8%.
As reported by Seeking Alpha, Deliveroo plans to conduct an initial public offering (IPO) on the London Stock Exchange (LSE) with a price range of £3.90 to £4.60 per share. With this figure, Deliveroo would be able to raise fresh funds of up to £1 billion or US$ 1.4 billion.
For information, Amazon bought a minority stake in Deliveroo in August last year as part of a US$ 575 million funding round in May 2019.
Amazon plans to sell 23.3 million shares at a price of £4.60 per share, so that the retail company could earn £107 million, equivalent to US$ 148 million. Deliveroo also plans to offer £50 million worth of shares to its customers.
"We congratulate Deliveroo on their IPO and can confirm that on completion of the IPO, Amazon will still own a large proportion of our pre-IPO minority stake,” a spokeswoman for Amazon said in an email quoted from Bloomberg.
Goldman Sachs and JP Morgan Cazenove have been appointed as global coordinators for the IPO. Regarding the IPO date, Deliveroo has yet to make an official announcement, but it is estimated that the company will debut in the next few weeks.
Apart from Amazon, Deliveroo is also owned by several other investors such as Durable Capital Partners, Fidelity, T. Rowe Price, General Catalyst, Index Ventures and Accel. (LM)