The German Federal Financial Supervisory Authority (BaFin) announced on Wednesday that it had fined Delivery Hero €630,000 for violating the Market Abuse Regulation (MAR) by failing to disclose inside information.

According to BaFin rules, companies in Germany that are issuers of securities and other financial tools are required to disclose inside information "without delay."

"BaFin may sanction such a violation by imposing a fine of a maximum of €2.5 million or 2% of the total turnover," the regulator said in the statement. Delivery Hero can now present an appeal against the fine.