Shares of British food delivery app Deliveroo slumped by 30% in its stock market debut, a blow to the ambitions of the City to attract more high-growth technology company listings during a boom period for initial public offerings.

The IPO of the London-headquartered firm, which was seen as a test to the City's ambitions to attract more high-profile firms, has been beset with problems after numerous large investors shunned the firm because of concerns over workers’ rights.