Germany’s Delivery Hero SE late Tuesday said it sold its entire 4.5% stake in UK food delivery peer Deliveroo PLC, raising £76.8 million.

The Berlin-based delivery platform said about 68 million Deliveroo shares were placed with institutional investors at £1.13 per share. Deliveroo shares closed at 121.90 pence on Monday in London. It has a £1.86 billion market capitalisation.

The accelerated bookbuild was run Barclays Bank Ireland PLC, Goldman Sachs Bank Europe SE and Morgan Stanley Europe SE.

Delivery Hero said it has no remaining Deliveroo shares, adding the disposal shows its ‘commitment to disciplined capital allocation’.

Delivery Hero shares closed down 3.7% at €22.59 in Frankfurt on Monday. It has a €6.34 billion market cap.

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