Just Eat’s parent company is to delist from the London Stock Exchange but maintain its primary listing on the Euronext Amsterdam.
Just Eat Takeaway.com – one of the world’s largest meal delivery firms created via a merger when Just East was acquired by Takeaway.com for £6.2 billion in 2020 – is headquartered in Dutch capital and has been listed in both the Netherlands and UK.
Following a review of its listing venues, it has taken the decision “in order to reduce the administrative burden, complexity and costs associated with the disclosure and regulatory requirements of maintaining the LSE listing, and in the context of low liquidity and trading volumes of the shares on the LSE”.
It is intended that the LSE delisting will become effective from 8am on 27th December 2024, with the last date of trading on the LSE set to be Christmas Eve.
“The LSE delisting is expected to have no impact for shareholders who hold their shares on Euronext Amsterdam,” it stated.
“As the company is assigned to the equity shares international commercial companies secondary listing category of the official list of the FCA, no shareholder approval is required for the LSE delisting.”
The LSE has sought to remove some of the complexity and administrative burden associated with listing in London following an exodus of companies and criticism from figures such as THG plc CEO Matt Moulding.
New York is now seen in some quarters as a more attractive destination for companies looking to list due, in part, to the larger valuations of tech firms.
Just Eat Takeaway.com’s share price has dropped 84% since the merger.
The firm recently sold its loss-making US business Grubhub Inc to New York-based Wonder Group for $650 million just four years after buying it for $7.3bn.