Shares in Delivery Hero were down 15.4 per cent to €36.05; shares in Just Eat Takeaway fell 19 per cent to 2,253p while shares in HelloFresh were down 6.1 per cent to €39.22
Shares in Delivery Hero were down 15.4 per cent to €36.05 in the week ending April 14, according to the Future Food Finance FoodTech Index.
The share price fall in the Berlin-based delivery service follows the news that it had launched a debt financing syndication equal to €1.4bn with proceeds earmarked for boosting its liquidity position.
It includes a €760m term facility and a €300m term facility, which have a maturity of 5.25 years.
The proceeds will be used for potential refinancing of convertible debt at maturity, working capital and guarantees, Delivery Hero said.
Delivery Hero co-founder and CEO Niklas Östberg said: “We’re excited to be able to launch this financing transaction today, as it proves our ability to access various funding sources thanks to the fundamental strength of our business.
“We have established a strong and diversified capital structure that provides us with financial flexibility and ample liquidity buffers to deliver on our strategic priorities.
“This financing transaction marks another important milestone for Delivery Hero as we are progressing on our objective of delivering superior growth while approaching group-level profitability.”
In February this year, shares in Delivery Hero dropped over 59 per cent in one week to €41 prompting Östberg to take to Twitter to apologise to investors following earnings guidance, which fell below expectations.
Elsewhere in the index, shares in Just Eat Takeaway fell 19 per cent to 2,253p while shares in HelloFresh were down 6.1 per cent to €39.22.