June 27, 2017 / 8:25 PM / 2 years ago

Delivery Hero IPO to price in upper half of price range: sources

The Delivery Hero headquarters is pictured in Berlin, Germany, June 2, 2017. REUTERS/Fabrizio Bensch

FRANKFURT (Reuters) - Online takeaway food delivery group Delivery Hero is expected to price its initial public offering in the upper half of the price range of 22.00-25.50 euros a share, people close to the deal said.

The price guidance for the company’s IPO narrowed further to a range of 24.50-25.50 euros a share, IFR, a Thomson Reuters publication, reported late on Tuesday, without specifying its sources.

Earlier on Tuesday, sources said Delivery Hero had narrowed the IPO price guidance to 23.75-25.50 euros a share, adding new orders would only be taken until close of business on Tuesday.

The company aims to raise 927 million euros ($1.04 billion) through a stock market listing that could value Delivery Hero at up to 4.4 billion euros.

Reporting by Arno Schuetze, Alexander Hübner and Andreas Cremer; Editing by Maria Sheahan and Alison Williams

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