Goldman Sachs bought $103 million in Deliveroo shares to boost the delivery company's IPO price, report says

• Goldman Sachs bought £75 million of Deliveroo shares after the IPO price tumbled in the London trading debut, the Financial Times reported.
• Deliveroo shares fell as much as 30% when they began trading in London on March 31.
• The food-delivery company's advisers had anticipated more volume than the shares had attracted.
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Goldman Sachs purchased about £75 million ($103.5 million) of Deliveroo shares to bolster the food-delivery company's IPO price after the shares tumbled in their public trading debut, the Financial Times reported Tuesday, citing two people with direct knowledge of the matter.

Deliveroo's £1.5 billion IPO pulled in unusually low levels of trading for one of London's biggest IPO offerings in years, with volumes around a third of what Deliveroo's advisers had anticipated, the report said.

Deliveroo shares fell as much as 30% in their March 31 debut on the London Stock Exchange.

The purchase by Deliveroo's underwriters equate to nearly a quarter of the value of shares during Deliveroo's first two days as a public company last week, according to Bloomberg data cited in the FT report.

Goldman Sachs has so far used about half of an overallotment designated to stabilize the price of Deliveroo's shares in the event they fell after listing, the report said, citing a person with knowledge of the deal. The investment bank was the only stabilization agent on the deal and was in charge of the listing process along with JPMorgan Chase.

Goldman Sachs and Deliveroo declined to comment, the FT reported.

Other banks on the Deliveroo deal include Bank of America, Citigroup, Jefferies and Numis.