The deal could value the takeaway food app at around $7 billion.

That would make it the biggest new share issue in the UK in three years.

The listing will be structured to give cofounder and chief executive Will Shu more control over the company.

That means it won't initially be eligible for a 'premium' listing that allows it to join that major FTSE indices.

The so-called 'dual class' structure is a common feature in the U.S., but is frowned upon by some UK investors.

They fear it can give executives influence out of proportion to their stake.

Deliveroo says it will move to a regular single structure after three years.

The deal will be one of the most eagerly awaited IPOs in London in the first half of this year.

Goldman Sachs and JP Morgan are leading arrangements, with Bank of America, Citi and other lenders also involved.