Delivery Hero IPO

BERLIN: One of Europe’s biggest start-ups, Germany’s Delivery Hero, the online food take away service, has ruled out a stock market listing for this year but could be ready by next year, its chief executive said in an interview.

“At the moment, there are other things which we want to concentrate on. We will have created the preconditions for a listing by the end of the year so that we can decide quickly at any time in the course of next year,” Niklas Ostberg said.

Ostberg said it had also not been decided on which exchange — most likely Frankfurt or New York — the company would list. The company, which has built up a delivery network for more than 200,000 restaurants in 34 countries, raised new funding in June from two undisclosed US public company investors that valued the company at 2.8 billion euros ($3.2 billion).

German e-commerce investor Rocket Internet, which first bought into Delivery Hero in February and holds a 38.5 per cent stake through its Global Online Takeaway Group, is reportedly more keen to push ahead more quickly with a listing.