JUST EAT TO DELIST ITS SHARES FROM LONDON STOCK EXCHANGE – The company will continue to focus its operations in the Netherlands
Just Eat Takeaway, the food delivery giant, has announced plans to withdraw its shares from trading on the London Stock Exchange (LSE), marking another setback for the UK’s stock markets.
The company stated that it will cancel its secondary listing in London while maintaining its primary listing on Amsterdam’s Euronext exchange.
Two years ago, Just Eat Takeaway appeared to back the LSE by opting to retain its UK listing and drop its US listing following a merger with American food delivery company Grubhub. However, after a subsequent review of its listing options, the company decided to exit the LSE, citing the costs and complexities of compliance.
In a statement, the company explained: “Following this review, the company hereby gives notice that, 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 has requested that the FCA cancel the listing of the shares.”
Shareholders are being advised to consult their investment advisers or brokers to convert their holdings to Amsterdam-listed shares.
When Just Eat merged with Takeaway in 2020, it had initially planned to prioritize a London listing over Amsterdam. However, it later reversed that decision, and its London listing was subsequently downgraded to secondary status, leading to its removal from the FTSE 100.
The company, now headquartered in Amsterdam, will continue to focus its operations in the Netherlands.
