Delivery Hero shares surged 11% Wednesday afternoon in European trading, extending gains from earlier in the day.
Delivery Hero, one of Europe's largest food delivery apps, has faced recent pressure from investors over its ability to make a solid return on businesses it's wholly or partly acquired.
Now, Delivery Hero is attempting to claw back from the brutal share price plunge, which brought the company's stock to its lowest level since 2022.
That came after Delivery Hero announced a deal to divest its entire stake in the British food delivery company Deliveroo.
Delivery Hero at the time denied the report and pushed back on speculation that a collapse in talks was imminent.
Persons:
Niklas Ostberg, Foodpanda, Ostberg, breakeven
Organizations:
New Straits Times, CNBC, Foodpanda, Shareholders
Locations:
Southeast Asia, Deliveroo