Hedge fund Odey takes short position against Deliveroo

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Odey Asset Management has become the first hedge fund to be identified as having profited from shorting the shares of Deliveroo and contributing to what has been dubbed “the worst IPO in London’s history”.

Two fund managers at the London-based firm, Jamie Grimston and James Hanbury, are said to have targeted the food delivery firm on its stock market debut, contributing to a 40 per cent fall in the stock.

The duo took the short position on March 31, the first day of conditional trading, according to the Financial Times, which first reported the move. The shares tumbled by 30 per cent on the first morning of trading and Odey is assumed to have booked a large profit.

The revelation follows claims by