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Deliveroo to price IPO at bottom end of indicated range

LONDON, March 30 (Reuters) - Deliveroo will price its initial public offering at 390 pence per share, banks working on the deal said on Tuesday, at the bottom end of expected valuations for the food delivery group.

That would indicate a valuation of 7.6 billion pounds, less than expected, after a string of major UK fund managers said they would not take part in the deal, citing concerns about its dual class share structure and its gig economy business model.

The listing is covered multiple times over, the bookrunners said, with the deal expected to close at 1200 GMT.

Reporting By Lawrence White; Editing by Kirsten Donovan

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