Deliveroo IPO: share price range set between $5.40 and $6.38 for a valuation of up to $12 billion

The food delivery company will use the funds it raises to expand into the hot grocery delivery market.

After announcing a planned IPO earlier this month, Deliveroo has now set a price range for its shares when trading finally begins. The U.K.-based food delivery company has set a range of £3.90 to £4.60 per share ($5.40 to $6.38 USD), reports CNBC. Such a range gives the company a valuation of between £7.6 billion and £8.8 billion ($10.5 billion to $12 billion USD).

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