Deliveroo shares 'arrive cold' as flotation dream becomes nightmare

The company's shares – already priced at the lowest target range – plummeted immediately, wiping an initial €2.7bn off Deliveroo’s value

Deliveroo suffered a torrid start to its share sale, adding to concern for growth and technology stocks and putting London's bid to be a hub for tech IPOs into doubt.

Deliveroo has suffered a disastrous start to life as a public company, with the food delivery firm's value taking a battering from investors shunning its London share sale.

Hyped, in the run-up, as being the largest stock market listing in London for a decade, the shares – already priced at the lowest target range – plummeted immediately, wiping an initial £2.3bn (€2.7bn) off Deliveroo’s company value.