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Deliveroo shares tumble by third on UK stock market debut

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LONDON – Shares of app-based meal delivery service Deliveroo tumbled by as much as a third in their U.K. stock market debut on Wednesday.

The London-based company's shares slid even after they were priced at the bottom of the potential range, reflecting investor wariness and broader market turbulence for tech-related stocks.

Demand was also hurt after a number of leading U.K. fund managers said they would abstain from investing amid concerns about working conditions for its delivery riders and its shareholder structure.

Shares in Deliveroo, which competes with Uber Eats and whose backers include Amazon, were down 30% at the start of trading from their offer price of 390 pence.

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India
India
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Brazil
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Deaths: 141 607
Recovered: 0
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Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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