German delivery giant Delivery Hero raises €1.2B in a share sale

Berlin-based Delivery Hero has raised around €1.2 billion by issuing new shares, Bloomberg reports

Established in 2011, Delivery Hero is the world’s leading delivery platform, operating its service in more than 40 countries across Asia, Europe, Latin America, the Middle East, and North Africa and processing over 120 million orders on average per month. According to Reuters, the coronavirus pandemic with its social distancing rules only increased the demand for home delivery services, making Delivery Hero’s shares reached an all-time high on January 5.

To take advantage of “attractive investment opportunities”, the company sold 9.44 million shares to its institutional investors at €132 per one. The price represented a 4.6% discount to the stock’s closing price of €138.35 on January 6 on the Frankfurt exchange. Delivery Hero is going to use the proceeds to fund its further growth.