Deliveroo has confirmed its stock market flotation will take place in London.

The decision by the takeaway delivery company is a huge boost to Chancellor Rishi Sunak’s plans to make Britain a more attractive place for technology IPOs. 

Deliveroo will make the most of reforms unveiled this week, permitting a “dual class” listing structure, enabling founders to maintain greater control after their companies go public, Sky News reports.

Since Deliveroo was founded in London in 2013, it has become one of the UK’s most valuable technology businesses, with a likely market value of up to £7.5 billion.

The firm currently operates in over 800 towns and cities in 12 markets around the world.

The Chancellor described Deliveroo as a "true British tech success story", adding: "We are looking at reforms to encourage even more high growth, dynamic businesses to list in the UK.
"So it's fantastic that Deliveroo has taken this decision to list on the London Stock Exchange."
This was echoed by London Stock Exchange chief executive David Schwimmer, who said the move “highlights the UK capital markets’ ability to support leading global tech companies. London Stock Exchange is an increasingly attractive destination for high-growth, founder-led businesses, enabling them to innovate, grow and create jobs.”
Company founder, Will Shu said: "Deliveroo was born in London. This is where I founded the company and delivered our first order.
"London is a great place to live, work, do business and eat. That's why I'm so proud and excited about a potential listing here."
Demand for Deliveroo has skyrocketed during the coronavirus crisis with hundreds of restaurants throughout Britain joining the platform as they were forced to close to dine-in customers.