The eagerly awaited float of takeaway firm Delivery Hero appears to have been a success, with shares rising on its first morning of trading.
The firm debuted on the Frankfurt stock market today after it priced shares at the top end of its price range, raising around €1bn.
And by 10.30am shares had risen more than five per cent, trading at €26.72 each.
The listing is the first since 2014 for 35 per cent owner Rocket Internet. Delivery Hero's fortunes this morning contrast with its peer Blue Apron. The latter listed yesterday, but at a lower price than expected due to Amazon's plan to buy Whole Foods – investors feared it could launch a rival to the meal-making firm.
Delivery Hero operates in 33 markets around the world and has a network of more than 300,000 restaurants. In the UK it is in the middle of selling Hungryhouse to rival Just Eat, a deal which is facing an in-depth probe by the competition watchdog.