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How to buy Deliveroo (ROO.L) stock in Canada
Canadian investors will need an international stock trading account to invest in this popular British delivery service.
British delivery company, Deliveroo, has gone public on the London Stock Exchange (LSE). Here’s how investors in Canada can buy in.
Note: all dollar amounts on this page are in US dollars unless otherwise stated.
What we know about the Deliveroo IPO
London-based delivery service, Deliveroo, went public on the LSE on March 31, 2021 under the ticker symbol “ROO.” The initial share price was expected to be between £3.90 and £4.60, which valued the company at £7.59 billion (around CAD $13.17 billion). Back in January, 2021, the company was valued at $7 billion after raising $180 million in a round of funding.
Actual prices fell below Deliveroo’s expectations, with stocks trading for as little as £2.73 on the first day. In total, Deliveroo sold 384,615,384 stocks and made £1.5 billion from its IPO (around CAD $2.6 billion).
Can I buy Deliveroo stock from Canada?
You can’t buy Deliveroo stock on a Canadian stock exchange like the TSX or CSE. Instead, you need a Canadian broker that provides access to stocks sold on the London Stock Exchange (LSE), the market in which Deliveroo stocks are trading. However, some Canadian brokerages don’t offer access to international investments at all or only provide access to a limited range of investment opportunities.
Interactive Brokers provides access to many stock exchanges around the world including the London Stock Exchange (LSE), New York Stock Exchange (NYSE), NASDAQ, Toronto Stock Exchange (TSX), Hong Kong Stock Exchange (SEHK), Korea Stock Exchange (KSE), National Stock Exchange of India (NSE) and Frankfurt Stock Exchange (FWB).
The process of buying stocks listed on international exchanges is basically the same as buying stocks in a Canadian company. You buy and sell using your online trading account or through an investment broker who handles international stocks.
How to buy Deliveroo stock
You can buy Deliveroo stock with an international brokerage account. Here’s how it works:
- Compare share trading platforms. If you’re a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
- Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
- Search for Deliveroo Holdings Plc. Find the stock by name or ticker symbol: ROO.L. Make sure you research the company’s history to confirm whether it’s an investment that will help you reach your financial goals.
- Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Deliveroo reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
- Decide on how many to buy. your budget against a diversified portfolio that can minimize risk through the market’s ups and downs. You may be able to buy a fractional share of Deliveroo, depending on your broker.
- Check in on your investment. Congratulations, you now own a part of Deliveroo! Optimize your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.
Access international stock exchanges (including the LSE)
To buy stocks, you’ll need to open a brokerage account. Compare your options using the table below to find the best fit for you.
Note: The dollar amounts in the table below are in Canadian dollars.
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