Just Eat delivers blow to London Stock Exchange as it decides to end listing

The nutrient transportation work said the costs and complexity of maintaining its shares successful London and debased trading volumes of its shares were among the reasons for the determination to delist

Just Eat Takeaway is readying to driblet its listing connected the London Stock Exchange successful an effort to trim costs and complexity, marking different setback for the UK’s markets.

The transportation elephantine intends to support its shares trading connected the Amsterdam banal market, wherever it is headquartered. The institution has weighed up the implications of having a superior marketplace listing successful Amsterdam and a secondary 1 successful London.

It pointed to the "administrative burden, complexity and costs" linked with keeping its shares successful London arsenic the crushed for its departure, on with debased liquidity and trading volumes of its shares. Earlier this month, Just Eat announced it had sold its US concern Grubhub astatine a important loss, implicit 2 years aft initially revealing plans to divest the firm.

It acquired the concern during the pandemic-induced surge successful takeaways, aiming to penetrate the US nutrient transportation market. Just Eat anticipates its delisting volition travel into effect from December 27. A institution spokesperson said the determination to delist was made portion considering "enhancing efficiencies", adding: "The bulk of our trading volumes hap astatine our superior listing venue connected the Euronext Amsterdam."

The institution further stated: "The UK continues to beryllium a cardinal marketplace for us, location to galore of our talented colleagues and our ever-expanding scope of market and edifice partnerships."

The London Stock Exchange has been deed by respective companies being bought retired oregon moving overseas successful caller years. Paddy Power's genitor company, Flutter, has relocated its superior banal marketplace listing to New York, portion German-owned Tui has abandoned its London listing successful favour of staying connected the Frankfurt banal market. In a further setback, UK spot shaper Arm Holdings opted for Wall Street implicit London for its banal marketplace comeback.

Other firms specified arsenic Superdry and Nightcap person near the London markets this twelvemonth to go backstage entities.