Deliveroo reports narrowing losses before flotation as Covid boosts demand

Meal delivery company could be valued at nearly $7bn after IPO on London Stock Exchange

Meal delivery company Deliveroo has confirmed plans for a stock market debut in London, as the firm reported a narrower annual loss following a boom in demand during the Covid-19 pandemic.

The offering, which could value the company at $7bn (5bn) following the initial public offering, will be open to everyday customers as well as institutional investors. Deliveroo has not yet confirmed a target price.