Berlin-based food delivery powerhouse Delivery Hero is raising about €1.2 billion by issuing new shares. The company has stated that the money will be used to gain general financial flexibility and take advantage of “attractive investment opportunities.”

Delivery Hero has issued 9.44 million new shares sold at €132 a piece, which represents a 4.6 percent discount from the closing price on January 6, Reuters reports. As a result, the share price went down 2.3 percent in pre-market trade.

Overall, Delivery Hero appears to be seen by the markets as a big winner in the lockdown reality. The company’s shares reached all-time high earlier this week.

The company didn’t specify any “investment opportunities” it has in sight, but at least some of those could lie in Asia, a region in which Delivery Hero has shown a great interest. Back in December 2019, it announced the acquisition of South Korea’s Woowa Brothers, the owner of the country’s most popular food delivery app Baedal Minjok. Valued at $4 billion, the deal is expected to be closed after Delivery Hero sells its South Korean unit as required by the local antitrust regulators.

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