Chris Hughes, Columnist

Delivery Hero Hits the Spot

Delivery Hero shows hunger for new growth stocks in Europe.

June 30, 2017 at 11:15 AM UTC

Chris Hughes is a Bloomberg Opinion columnist covering deals. Previously, he worked for Reuters Breakingviews, the Financial Times and the Independent newspaper.

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Tech stocks whipsaw and yet a large, loss-making dotcom gets huge demand for its first public share sale and a favorable reception on its debut. The 4.4 billion euro ($5 billion) listing of Delivery Hero says a lot about modern money trends.

Delivery Hero AG connects restaurants with customers via the internet. Its initial public offering priced at 25.50 euros per share on Wednesday, the top of the marketing range. Then global stocks dived. Even so, Delivery Hero was hovering up about 7 percent in its first hours of trading on Friday.