Just Eat to delist from London Stock Exchange

Delivery firm Just Eat has announced its intention to delist from the London Stock Exchange.

The takeaway giant said it had made the decision to cancel its secondary London listing “in order to reduce the administrative burden, complexity and costs” borne by the business.

Just Eat added that in “the context of low liquidity and trading volumes”, it has requested the Financial Conduct Authority cancel listed shares.

The delisting is expected to be effective from 27 December 2024, meaning the last day of trading will be 24 December.

The business has a primary listing on Amsterdam’s Euronext exchange, which it will retain.

Just Eat Takeaway is headquartered in Amsterdam and works with 731,000 partners across more than 15 countries.

In 2021 the business acquired American rival Grubhub in 2021 in a $7.3b (£4.7b) deal to create the world’s largest online food delivery brand outside of China.

Earlier this month it agreed to sell Grubhub for an enterprise value of $650m (£510m), less than a tenth of the price it paid to acquire the brand.