Odey Asset Management Unit Takes Short Position in Deliveroo

A unit of Odey Asset Management has taken a short position in Deliveroo Plc, according to a person familiar with the matter.

The firm’s recently created Brook Asset Management unit made the bet, the person said, asking not to be identified because the details aren’t public. The size of the position isn’t clear. Deliveroo’s shares are down more than 40% since the food delivery app’s disappointing initial public offering last month.

Odey Asset Management Chief Executive Officer Timothy Pearey declined to comment.

The Financial Times earlier reported that the position may have been taken on March 31, the day of Deliveroo’s IPO, citing investor documents it had seen. The report said the size of the position was unclear, adding that its non-disclosure in regulatory filings could mean it was below the 0.5% threshold.

Crispin Odey stepped down from running his eponymous firm in November, and the company separated and rebranded several funds under the Brook Asset Management unit. He was acquitted of a sexual assault charge last month.

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