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Amazon-backed firm starts trading in London today

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A Deliveroo cyclist in London, U.K.

Dinendra Haria | SOPA Images | LightRocket | Getty Images

LONDON — Shares of British food delivery start-up Deliveroo sank in its stock market debut Wednesday, as the company faces pressure from top investors and trade unions over workers’ rights.

Deliveroo, which is backed by Amazon, saw its shares down around 30% in early deals compared to the issue price.

The company priced its shares at £3.90 ($5.36) Tuesday, giving it a market value of £7.59 billion, which is at the bottom end of its IPO target range.

But the company’s share price was down to around £2.73 as shares began conditional trading.

Deliveroo is selling 384,615,384 shares, equating to an…



Source cnbc.com

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