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.


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.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.