Just Eat plans London stock flotation

<p>Stocks in Just Eat will float on the London Stock Exchange.</p>

Online takeaway service Just Eat has confirmed it is planning an impending stock market flotation in the UK.

The business stated that shares will be sold on the London Stock Exchange and the company is aiming to raise as much as $100 million (£60 million) through the event.

"The listing of Just Eat on the London Stock Exchange marks the next stage of our growth and development," said the company's chief executive, David Buttress.

Just Eat is aiming to branch out into more countries in the coming years and wants to use the cash raised by the flotation to grow into new markets. It already has a presence in more than a dozen countries around the world, but wants this number to rise swiftly in the near future.

Consumers signing up to use Just Eat are able to order takeaway food to their homes from their computers and mobile devices, with the company becoming a massive success in recent years.

The UK is currently one of Just Eat's biggest markets, but the business is already selling in 12 other countries and expects this figure to quickly shoot up once more funding is secured.

Backers

Venture capital firm backers SM Trust, Index Ventures, Vitruvian Partners, Redpoint Ventures and Greylock Partners are among the organisations to currently have a stake in Just Eat and it is expected they will all cash in as a result of the share sale.

Just Eat also revealed that over the course of 2013, orders placed through its website and mobile apps were 59 per cent higher compared with 2012, while the company's total revenues for the year were £96.8 million.

This was a 61.9 per cent rise on the previous 12 months, while the firm also said its average revenue per order was now up to £2.11, which is a 5.5 per cent increase on 2012.

Just Eat is far from the only business planning to float on the London Stock Exchange in the coming months. Poundland and Pets at Home are both planning their own initial public offerings.

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