Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Deliveroo plc
  6. News
  7. Summary
    ROO   GB00BNC5T391


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Payments firm Trustly aims for 9 bln euro valuation in Stockholm IPO

04/12/2021 | 02:45am EDT

(Adds valuation figure, quote, background)

STOCKHOLM, April 12 (Reuters) - Swedish payments firm Trustly said on Monday it intends to list its shares on the Nasdaq Stockholm exchange, the latest in a line of major European tech unicorns seeking a stock market listing.

The deal could see the company valued at around 9 billion euros , based on the middle of a range of analyst views on the company seen by Reuters and confirming a Reuters report https://www.reuters.com/article/us-trustly-ipo-idUSKBN29R0YY from earlier this year.

That would be around 60 times Trustly's expected core 2022 earnings, a discount to peer Adyen which trades at 72.5 times but a premium to Nuvei, which trades at 30.5 times.

"We are going to raise 8 billion Swedish crowns primary proceeds that we will use to pay off existing debt facilities, and then we want to have a net cash positive balance sheet," Chief Executive Officer Oscar Berglund told Reuters.

The appeal of financial technology companies has increased during the COVID-19 pandemic as more people shop online and make payments digitally to avoid physical contact.

Tech and e-commerce companies helped push the European IPO market to its strongest quarter since 2015 in the first three months of this year.

Poland's InPost and Germany's Auto1 were two highlights, though a debilitating stock market debut for Britain's Deliveroo cast doubts on whether the tech rally can last.

"Trustly is a quality asset with quality sponsors in a very hot space," said a source familiar with the company's IPO.

"Yes, there has been a rotation from growth to value stocks recently. But I think growth still has a lot of attraction. It should ideally come with profitability as well as cash flow," he added.

Other European fintech firms such as Wise and Klarna are also planning for stock market listings.

"This is sort of a process that we have been working on for a year now to prepare the company and make it ready for the public markets," Trustly Chairman Johan Tjärnberg said.

Trustly had also assessed a listing in the United States and might look at a dual listing in the future, he said.

Founded in 2008, the company counts PayPal, Wise and Facebook among its customers. Its platform allows users to pay for purchases directly through their bank accounts, bypassing the need for a debit card or a mobile wallet.

Carnegie, Goldman Sachs and J.P. Morgan are joint global coordinators.

($1 = 0.8413 euros) (Reporting by Supantha Mukherjee in Stockholm; editing by Jason Neely and Kirsten Donovan)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADYEN N.V. -0.46% 1879.6 Real-time Quote.-0.85%
AUTO1 GROUP SE 0.40% 45.03 Delayed Quote.0.00%
DELIVEROO PLC -1.05% 260.436 Delayed Quote.0.00%
INPOST S.A. -0.07% 15.28 Real-time Quote.0.00%
NUVEI CORPORATION -4.08% 67 Delayed Quote.11.24%
PAYPAL HOLDINGS, INC. 1.87% 252.02 Delayed Quote.7.61%
THE GOLDMAN SACHS GROUP, INC. 2.33% 365.97 Delayed Quote.38.78%
All news about DELIVEROO PLC
05/05Facebook Reports 7 Million Paid Subscribers for Workplace Service
05/04Britain's IPO pipeline packed despite Deliveroo flop, minister says
04/30Steeped in spycraft, cybersecurity firm Darktrace rockets on London debut
04/27DELIVEROO  : Waitrose Partners Up with Deliveroo in UK After Successful Trial
04/27UK's Waitrose expands rapid home deliveries with Deliveroo
04/27UK's Waitrose expands rapid home deliveries with Deliveroo
04/23EUROPE : European stocks log first weekly drop in eight, Allfunds jumps in debut
04/22Silicon connectivity firm Alphawave targets $4.5 billion London listing
04/21ANALYSIS : Not Impossible, just unlikely: Wall Street's plant-based love wilts
04/21Deliverect connects to delivery boom with $65 million funding
More news
Sales 2021 1 776 M 2 469 M 2 469 M
Net income 2021 -298 M -414 M -414 M
Net cash 2021 1 277 M 1 776 M 1 776 M
P/E ratio 2021 -15,5x
Yield 2021 -
Capitalization 4 815 M 6 684 M 6 696 M
EV / Sales 2021 1,99x
EV / Sales 2022 1,70x
Nbr of Employees 2 060
Free-Float 83,6%
Duration : Period :
Deliveroo plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DELIVEROO PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus UNDERPERFORM
Number of Analysts 3
Average target price 241,00 GBX
Last Close Price 263,20 GBX
Spread / Highest target 17,8%
Spread / Average Target -8,43%
Spread / Lowest Target -34,7%
EPS Revisions
Managers and Directors
Claudia Isobel Arney Non-Executive Chairman
Charles Richard Kenneth Medlock Independent Non-Executive Director
Simon Adam Wolfson Independent Non-Executive Director
Eric French Chief Marketplace Officer
Sector and Competitors
1st jan.Capitalization (M$)
NETFLIX, INC.-8.26%219 963
PROSUS N.V.-0.29%169 973
AIRBNB, INC.4.66%98 737