• CNBC reports that in the UK, food delivery startup Deliveroo - which is 11.5 percent owned by Amazon - "has changed the target value for its initial public offering on the London Stock Exchange, after some investors expressed concerns over workers’ rights and the company’s share ownership structure."
The reduction in share value reflects the fact that Deliveroo has reduced its market cap from as high as $12 billion (US) to as high as $10.7 billion.
CNBC writes that "Deliveroo said it’s reacting to market conditions, which have taken a turn for the worse in the last week. Half of the tech IPOs in the U.S., and in Europe, the Middle East, and Africa, priced in the bottom third of their announced ranges last week.
"However, the new share price range announcement also comes amid an investor revolt. Several large investors said they plan to shun the Deliveroo IPO on April 7 over workers’ rights and the company’s share ownership structure, which gives CEO Will Shu over 50% of the voting rights."