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Deliveroo's bleak IPO unlikely to have major impact on tech listings

But observers point to recent IPOs that might indicate weakening exuberance for tech

Claudia Chong
Published Fri, Apr 2, 2021 · 05:50 AM

Singapore

DELIVEROO'S flop on the London bourse seems more like an instance of bad timing and market conditions in the UK, coupled with concerns about its gig worker model, rather than a sign of conservatism coming to market.

Observers that The Business Times spoke to don't see this significantly affecting upcoming unicorn listings across major bourses, though some flagged that the window for blockbuster tech initial public offerings (IPOs) could be narrowing.

"Europe is still reeling from Covid-19, and there is a lot of fight between the EU (European Union) and UK - Deliveroo picked the wrong time. If it were the US, I don't see an issue, although the valuation for the company is a bit rich," said Jeffrey Seah, a partner at ear…

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