Amazon-backed food delivery company Deliveroo kicked off its eagerly-anticipated initial public offering in London on 1 March, helping to boost government hopes of convincing more fast-growing technology companies to list on the London Stock Exchange.

London-based Deliveroo, which is 16% owned by online retailer Amazon, plans to raise capital by selling new stock, while existing holders also will sell shares, according to a statement that didn’t provide details on the size of the planned offering. The company was valued at more than $7bn in its latest funding round that completed in January.