Takeaway company Deliveroo has confirmed its intention to float, saying that it will sell £1bn ($1.4bn) in new shares in its initial public offering (IPO) on the London Stock Exchange.

The company said that any additional details of the offering would be disclosed in its forthcoming prospectus.

Despite that, some details of what Deliveroo intends to roll out have already been announced.

The official announcement comes following news released by the company last week that it would make £50m of shares available to its customers in a “community offer.”

The company also said it would give up to £10,000 to its busiest riders with a £16m "thank you" fund.

The takeaway go-between issued a statement last week that showed it had narrowed its losses in 2020 to £223.7m.

That's compared with a loss of £317.3m in 2019, following a bumper year, partially due to stay-at-home orders during the coronavirus pandemic.