The food delivery giant, Just Eat Takeaway has announced plans to delist its shares from the London Stock Exchange, marking another setback for the UK’s stock markets.
The company will cancel its secondary listing in London while retaining its primary listing on Amsterdam’s Euronext exchange. This decision follows a review of its listing venues, with Just Eat citing the compliance burden, regulatory complexity, and low trading volumes in London as key reasons for the move.
“After this review, the company has requested the FCA to cancel the listing of its shares on the LSE,” Just Eat stated, emphasizing its intent to reduce administrative costs. The company urged shareholders to consult their advisers on converting holdings into Amsterdam-listed shares.
Just Eat’s London debut in 2014, valued at £1.5bn, was a milestone for the UK’s tech sector, marking the largest tech IPO in eight years. However, subsequent mergers with Takeaway.com in 2020 and U.S.-based Grubhub left the company managing multiple listings. Initially, Just Eat had planned to prioritize its London listing over Amsterdam but later reversed course. Its secondary status in London led to its removal from the FTSE 100.
Now headquartered in Amsterdam, the company’s exit underscores its shift away from the UK market, further highlighting challenges faced by London’s stock exchange in retaining major international firms.
