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Deliveroo Sinks 31% in Setback to London Effort to Lure IPOs

  • Shares price at 390 pence apiece, bottom end of initial range
  • First-day plunge is setback for London effort to win listings
Bloomberg business news
Deliveroo Halted Due to Volatility
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Deliveroo Holdings Plc collapsed in its London public debut as investors abandoned the food-delivery startup criticized for its labor practices and corporate governance, just as the broader technology sector falls out of market favor.

The stock plunged as much as 31% in its first minutes of trading to trigger circuit breakers -- the worst performance in decades for a big U.K. listing. The stock closed down 26% at 287.45 pence.